Harare — The National Incomes and Pricing Commission has announced new prices of maize-meal, pegging a 10kg packet at $8 000 in shops.

NIPC acting chief executive Mr Esau Ndlovu said the new prices were with effect from yesterday.

He said maize-meal prices were last increased early this year, but following the revaluation of the dollar, the prices had become meaningless.

The wholesale price of a 5kg bag of maize-meal is now $3 000, while the retail price is now pegged at $4 000, up from $7,5 million (before revaluation).

A 10kg bag of maize-meal now costs $6 000 at the wholesale price while the retail price is $8 000 ($15 million before revaluation).

The wholesale price of a 20kg packet of mealie-meal is now $12 000 and the retail price is now $16 000 ($20 million before revaluation).

For a 50kg bag of mealie-meal, the new wholesale price is $30 000 while the retail price is $40 000.

Mr Ndlovu said the NIPC met with the other stakeholders over the new approved prices.

"Millers asked for the new prices saying the old prices were not viable. They have been holding back on milling for sometime saying they could not sustain their businesses with the old prices," he said.

"We are hoping that since they are the ones who asked for these prices, they will be able to deliver mealie-meal to members of the public."

However, sources in the milling industry said the new prices were no longer viable as the Grain Marketing Board yesterday increased the price of a 50kg bag of maize from $127 000 to $280 000.

A 50kg bag of mealie-meal now costs $155 000 at the GMB.

The sources said the new mealie-meal prices would have been reasonable if the GMB had not increased the price of grain.

"Now the NIPC has to set new prices again because these new ones are not going to work. The move by the GMB is an indication that mealie-meal prices should also increase," said a miller.

An official from NIPC said the commission had not received any application from the GMB for a price review and was yet to confirm the matter with the GMB officials.

"As of now, I can't comment on these new prices charged by the GMB because no applications were submitted to us except if they consulted the Ministry of Agriculture. We will talk to them and inform you as soon as we have all the information concerning the issue," he said.

In Bulawayo, maize-meal cannot be found on shop shelves but only on the black market where a 5kg bag was selling for $25 000 while a 10kg bag was going for between $40 000 and $50 000 yesterday.