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Wednesday, February 8, 2023
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HomeBusinessMEALIE MEAL PRICES TO REMAIN STABLE DUE TO POSITIVE ECONOMIC OUTLOOK

MEALIE MEAL PRICES TO REMAIN STABLE DUE TO POSITIVE ECONOMIC OUTLOOK

The Millers Association of Zambia-MAZ says the price of mealie meal will remain stable on the market for as long as important production factors such fuel, the exchange rate and the price of maize on the market are consistent as has been the case in the recent past.

A 25 kilogram bag of breakfast mealie meal has been fetching between K165 and K170 for a number of months now with a 10 kilogram bag of the same fetching between k70 and K75 in some leading retail outlets in Kitwe.

However, MAZ president Andrew Chintala says the current mealie meal prices on the market are below cost reflective with the cost of maize between K4000 and K4200 per metric ton but is of the view that the stability of the prices of mealie meal is comforting.

Mr. Chintala says the existing uncertainty around fundamental aspects of production such as the price of fuel that changes monthly and the relatively slow release of maize on the market by farmers all make it difficult to predict a downward adjustment in the pricing of mealie meal on the local market.

Further, Mr Chintala argues that with the prices of mealie meal remaining stable due to the positive economic outlook coupled with a favorable exchange rate, farmers must release the maize they are hoarding.

 

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