Wed. Jun 12th, 2024

Zimbabwe has scrapped duties and the requirement for import licences for basic food items in an effort to reduce the cost of food in a renewed cost-of-living crisis.

The measures followed the setting up of a government taskforce to investigate spiralling food prices.

According to the Famine Early Warning Systems Network (Fews Net), a global network of partners reporting on food insecurity, bread, sugar, and wheat flour prices increased by about 40% in Zimbabwe between February and April.

It said maize meal prices shot up by nearly 60% and rice and vegetable oil prices increased by about 20%.

Using the official exchange rate, the Zimbabwe dollar has dropped 32% in value against the US dollar since the beginning of April, however on the black market it’s fallen by almost double that.

The government blames businesses for using the black market rate to price their goods.

By Joy

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