Food manufacturer, Innscor Africa Ltd has marginally slashed price of its bakers inn bread on account of a slight drop in price of flour thanks to government subsidized wheat to local millers, 263Chat Business can reveal.
The company has since reduced its wholesale price from $ 14 to $ 13 while the recommended retail price has been pegged between $ 14 and $ 14.50 from $ 15.75 that has been trading on the market.
“The government has supplied millers with subsidized wheat which by and large reduces the price of flour. In response to this development, Bakers Inn Bakeries has decided to extend the benefit to the consumer despite the escalating costs of other inputs like power, diesel, local and imported raw materials,” Bakers Inn chief executive officer Ngoni Mazango noted.
The new price structure however, remains out of reach of ordinary Zimbabweans with many fearing the arrangement might just be temporary.
Other brands of bread on the market are yet to adjust prices in line with the developments in wheat supply.
The economy is currently experiencing shocks owing to exchange rate fluctuations that have sprung inflation figures beyond 500 percent.