The government has blamed the shortage of essential goods in formal retail outlets on arbitrage practices, accusing informal traders of exploiting exchange rate disparities to turn profits.
Information Minister Dr. Jenfan Muswere said during a post-cabinet media briefing that these traders were purchasing goods in bulk from formal stores and reselling them at higher prices on the informal market.
“These traders are taking advantage of exchange rate disparities and creating artificial shortages in the formal market,” Muswere said, adding that the government is concerned with the resulting price instability. He urged retailers to tighten bulk buying restrictions and called for law enforcement intervention where necessary to restore order in the market.
A survey conducted by Great Dyke News in Gweru has found that the prices of essential commodities have risen significantly, burdening consumers. Many shoppers expressed frustration, saying that basic goods are becoming increasingly unaffordable, especially for low-income households.
The survey highlighted price variations across the region, with maize meal now averaging USD 5.00 per 10kg due to seasonal supply shortages. Cooking oil is selling for an average of USD 3.80 per 2 liters. Bread is priced at around USD 1.00 per loaf.
Rice, which is now priced at approximately USD 7.00 per 5kg. Similarly, sugar is averaging USD 3.25 per 2kg.
Minister Muswere assured the public that the government is actively monitoring the situation and is ready to take steps to combat arbitrage practices. He urged retailers to limit bulk sales to prevent goods from being diverted to the informal market.
