Published: 28 September 2017

THE Consumer Council of Zimbabwe (CCZ) says some basic commodities, which disappeared from shelves since weekend have been found on the black market.

CCZ executive director, Ms Rosemary Siyachitema, said their investigations have shown that basic commodities like cooking oil, which is being hoarded, has found its way on the streets where it is being re-packaged into smaller quantities for resale.

"It's not all people who have enough money to stockpile basic commodities as we saw. You will find out that not all of them were individual consumers who are buying for their households but these are people who are hoarding to sell the commodities at inflated prices," said Ms Siyachitema.

"Some cooking oil has also been re-packaged into smaller quantities and is being sold on the street."

Confederation of Zimbabwe Retailers (CZR) president Mr Denford Mutashu concurred with the consumer watchdog before firing a salvo at unregistered retail outlets.

The CZR boss said unregistered shops are responsible for hoarding basic commodities for speculative purposes, a move which he said has triggered price increases of basic commodities.

"One of the biggest proportion in the retail sector is the unregistered and informal retail shops, which are not regulated.

"You will discover that they would swipe for basic commodities in formal retail outlets and stock them up and then resell them at exorbitant prices.

"We have already submitted this challenge to Government and it is seized with the matter," said Mr Mutashu.

A pessimistic social media message last Friday claimed that a shortage of basic commodities like cooking oil was looming, which triggered a buying frenzy that saw consumers stockpiling basic commodities.
- chronicle

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