Ministers Speak Out On Maize Stocks

Lusaka Province Minister Bowman Lusambo has called on residents to resist panic buying mealie meal, stating that there is enough maize stock to last until the next farming statement.

Lusambo made the statement following visits to all the millers under the tripartite agreement. Central Province Minister Sydney Mushanga has made similar reassurances to regarding availability.

Recent reports of mealie meal shortages across the country have prompted panic buying and increased prices in some areas.

The reports follow last year’s drought, during which 2.3 million people were affected according to the Minister in the Office of the Vice President Olipa Phiri.

Reacting to reports of shortages, the Millers Association of Zambia (MAZ) last week warned against panic buying, stating that there is enough maize to last until the next harvest. MAZ President Andrew Chintala accused some traders of exploiting the current situation in order to charge higher prices.

Agriculture minister Michael Katambo has also previously stated that there are sufficient stocks available. He has maintained that the retail price is still K135 to K137 for a 25kg bag of breakfast meal, as is printed on the bags. However, reports circulating online suggest prices are as high as K230 in Kabwe.

The minister warned those looking to exploit current rumours of shortages by charging a price higher than that printed on the bag will be apprehended.

Zambia recorded an annual inflation rate of 13.9% in February 2020. The figure was a further increase on the rate of 12.5% in January 2020, and 11.7% in December, and is the highest rate in almost three years.

The rate of year-on-year food inflation stands at a staggering 15.9%, meaning on average the price of food is 15.9% more expensive than it was in February 2019.

In 2019 inflation started at 7.9% but rose following increased food prices as a result of drought and a poor maize harvest. The current rate is double the Bank of Zambia’s target of between 6 and 8%.