Minister of Trade and Industry Vitumbiko Mumba has warned bakeries in Malawi to reduce the price of bread or risk being shut down. This follows a decrease in flour prices by suppliers, aimed at easing the cost of living for consumers
The warning was issued on Monday during Mumba’s follow-up visit to Breadtalk Bakery at Crossroads Complex in Lilongwe. The visit aimed to check whether the bakery had implemented the agreed price cut for bread.
“The Ministry of Trade and Industry, together with other government departments, is making sure that prices for essential goods such as bread and oil do not escalate. We visited Breadtalk to confirm whether or not the prices have decreased as per our agreement; indeed, they have reduced from K4100 to K3800; however, we are not satisfied with the reduction; as such, we have given the management of Breadtalk 48 hours to revise the price,” said Mumba.
The Minister also visited Capital Foods Limited, a wheat flour producer, which has slashed flour prices from K230,000 to K120,000 per 50kg bag. He praised their move and encouraged other companies to do the same.
At Happie Foods, a cooking oil manufacturer, Mumba was pleased with the price drop from K150,000 to K100,000 per 20-liter bucket. He called on other producers and retailers to follow Happie Foods’ example.
“We are satisfied that the price has reduced from K150,000 to K100,000 per 20-liter bucket. I am calling on all cooking oil production companies as well as retailers to reduce their prices and take the example of Happie Foods,” he added.
Happie Foods owner Happy Nyirenda said the government’s efforts have improved his access to forex, boosting his business.
“I am now selling cooking oil at K100,000 per 20-liter bucket, and chances are high that I might decrease the price to K90,000. As such, I am appealing to my fellow cooking oil producers to further decrease their prices. Currently most of these suppliers are selling cooking oil at K120,000 from K150,000 per 20-liter bucket,“ said Nyirenda.
The government’s initiative is part of a broader plan to control the cost of essential goods and shield Malawians from rising prices.
Source: Malawi Government