According to a news report from mmegi.bw, “Local millers have been hard hit by escalating wheat prices. The Sales Manager of the Bolux Group, Lazarus Lekgoanyana, says the rising wheat prices have affected their business considerably.”
“Wheat prices have shot up from about R1,900 (P1,577) per tonne in January last year to about R4,300(P3,569) per tonne today. Lekgoanyana says they have been trying to absorb the increasing prices but cannot afford to do so any longer. “We are gradually passing it on to the consumer,” he says. “The increases have been eroding our margins.” He says as a result of these increases, the price of their flour products, as well as those for macaroni, spaghetti, biscuits and bread, are going to go up significantly. “It is going to affect the consumers’ basket drastically,” Lekgoanyana says. Lekgoanyana attributes the steep increase in the price of wheat to a number of factors, chief among them being the global food price increases that have provoked social unrest in some low-income countries,” said the story.
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