Windhoek-Bokomo Namibia has confirmed a price decrease on all its Wheat Flour, Bakery Flour, Bakery Complete Mix, Pasta and Maize Meal products effective as of March 6. The company says the price decrease is due to the strengthening of the Namibian Dollar coupled with improved raw material prices.
Bokomo Wheat Flour price will decrease by 7 percent, Bokomo Bakery Flour and Complete Mix by 7 percent, Pasta will decrease 7 percent and Bokomo Maize Meal by 13 percent. The price drops on the popular Bokomo Wheat and Maize Flour products are expected to be welcomed by consumers.
According to Hubertus Hamm, CEO of Bokomo Namibia, consumers have already benefited from lower promotional pricing on Bokomo products during the past holiday period and the upcoming price decrease will provide further relief.
The company also noted that global wheat and maize prices have declined in US Dollar terms and the appreciation of the Namibian Dollar against all major currencies has resulted in a decrease in the landed Namibian Dollar price of raw materials. The improved harvest forecast for maize in South Africa also puts downward pressure on raw material pricing.
“If the good rains continue in the summer planting areas of South Africa, we expect further decreases in maize pricing towards the middle of this year. Since the start of the rainy season average maize prices have already fallen from N$3 789 per ton in November to N$3 388 per ton in January,” read a statement from the company.