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| Press Statements |
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| STATE OF THE MARKET REPORT – DECEMBER |
| 20th December 2006 |
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Following surveys conducted by CCZ in the five regions in which it is represented, it has emerged that Flour and Sugar are not available on the formal market and that the parallel market is thriving with most of the of the goods in short supply readily available on the illegal market.
As a consumer watchdog CCZ calls on the relevant authorities to act on the situation which has dampened consumer moods in this festive season as they now have to pay twice the price of commodities on the formal market. Unruly elements and business people have been hording the commodities whenever the commodities are available formally. Whilst the commodity is scarce in shops, it can be seen in push carts outside the shops. On the other hand due to anticipation of a price increase consumers have been panic buying the commodity whenever it is available, with some business people withdrawing it also for the same reason thus creating artificial shortages.
CCZ urges consumers not to engage in practices that fuel the parallel market and calls on the authorities to effectively monitor the business conduct of some businesses (wholesale and retail) as these are the ones fuelling the shortages, instead of manufacturers.
The following are the results of surveys conducted by CCZ on the prices of goods being sold on the parallel market:
COMMODITY FORMAL MARKET PRICE ($) PARALLEL MARKET RANGE($)
Green Bar (Washing Soap) 1,502.50 2,400.00
Blue Bar Soap 1,400.00 2,500.00
Brown Sugar 2kg 570.00 1,000.00
White Sugar 2kg 570.00 1,000.00 – 2,000.00
Cooking Oil 2litres 5,000.00 – 6,000.00 6,000.00 – 8,00.00
Cooking Oil 750ml 2 617.00 2,70.00 – 3,900.00
Flour 2kg (Self Raising) 1,800.00 2,500.00
Toothpaste 100ml 3,400.00 4,500.00
Bread Standard Loaf 295.00 500.00 - 700.00
Fuel per litre 325.00 2,100.00 - 3,000.00
Bread supplies continue to be erratic, with most bakeries only supplying confectionary and so called Super White loaves and Whole Wheat bread. Most major bakeries have been supplying bread in very low quantities, such that most consumers have had to resort to buying from in-store bakeries at outlets such as Spar, TM, OK, Gutsai, FCG.
Fuel supplies have improved significantly especially during this festive season. The commodity is now available at most services stations although there has been little or no adherence to the selling of the commodity at the gazetted price. Most service stations are selling the commodity at the parallel market prices which are ranging between $2 100.00 -$2 500.00.
CCZ commends the amendment of the Criminal Codification Law through the upward reviewal of the fines as this is a move which will act as a deterrent to would offenders.
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