16.8 C
New York
Saturday, October 23, 2021

Zimbabwe to run out of bread in one week as flour stocks dwindle: millers

Zimbabwe to run out of bread in one week as flour stocks dwindle: millersZimbabwe to run out of bread in one week as flour stocks dwindle: millers

HARARE (Reuters) – Zimbabwe could run out of bread in a week after flour stocks dwindled due to the country’s failure to pay for imported wheat, according to a confidential letter written to bakers by the country’s grain millers’ group on Monday.

The southern African nation is in the grip of a severe shortage of U.S. dollars that has sapped supplies of fuel and drugs, as President Emmerson Mnangagwa struggles to live up to pre-election promises to quickly revive the troubled economy.

Zimbabwe imports wheat, which it blends with its local crop to make flour for bread, the country’s second major staple after maize meal.

The Grain Millers Association (GMAZ) general manager Lynette Veremu wrote to the National Bakers Association of Zimbabwe (NBAZ) to tell them the country not pay for 55,000 tonnes of wheat in bonded warehouses in Mozambique and Harare.

“We regret to advise that the current stocks for foreign wheat for bread flour have depleted to 5,800 tonnes and … we are left with less than eight days of national bread flour supplies,” the letter said.

GMAZ spokesman Garikai Chaunza confirmed the letter, saying “this is the situation we are faced with”.

Ngoni Mazango, the president of the bakers’ group, was not immediately available to comment.

The central bank lists wheat among priority imports like fuel and drugs, but has struggled to pay suppliers in the past. GMAZ said in December it owed foreign suppliers $80 million for past wheat imports.

Reserve Bank of Zimbabwe governor John Mangudya did not answer calls to his mobile phone.

Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.

Source: Investing.com

Related Articles

Stay Connected

10,836FansLike
12,893FollowersFollow
756FollowersFollow
- Advertisement -

Latest Articles

Popular Articles