M’MEMBE WARNS OF IMMINENT HUGE INCREASE IN MEALIE MEAL PRICES
M’MEMBE WARNS OF IMMINENT HUGE INCREASE IN MEALIE MEAL PRICES
By Leah Ngoma
Socialist Party Leader Fred M’membe says Zambians should expect a huge increase in mealie meal prices following the upward adjustment of maize buying price by the Food Reserve Agency-FRA- from K280 to K330.
Dr M`membe says the upward adjustment means private buyers will pay above K330 price to farmers to buy the little available maize.
He notes in a statement that consequently, the country should expect a huge increase in mealie meal prices and a corresponding increase in inflation.
Dr. M`membe is therefore concerned that coupled with power utility ZESCO applying for an electricity tariff increase and possible fuel hikes at the end of April, things will get worse.
FRA yesterday announced that it has commenced buying of white maize through main depots at K330.00 per 50kg bag of maize or K6,600.00 per metric tonne.
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