Price of maize soars by 400%

The price of maize at Mbare Musika had gone up by more than 400 percent between mid-May and mid-October, according to the latest report from the Famine Early Warning Systems Network, but it had only increased by 61 percent in US dollar terms.

The report said despite this hefty price increase, the price of maize in Zimbabwe was still more than three times cheaper in US dollar terms than what it cost to import maize from South Africa.

The country is reported to have a cereal gap of 685 000 tonnes between now and the end of the current season in March.

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