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Zimbabwe: Bread scarcity increases in rural areas.

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Most remote and rural areas of Zimbabwe have not been getting any bread supplies as bread production in Zimbabwe has dropped by half owing to foreign currency shortages and a poor wheat yield.



Although bread used to be a luxury product‚ particularly among the urban and rural poor‚ it has over time become a staple food. As such‚ $30m in foreign currency is required each month for procurement of wheat‚ of which $7m should be allocated towards bread.

“Bread is currently at 50% supply and we are only able to supply mostly urban areas‚” said Grain Millers Association of Zimbabwe chairperson Tafadzwa Musarara.

To avert the situation from worsening‚ a shipment of 30 tonnes is expected to dock in Mozambique.

Musarara said the situation became dire after Zimbabwe failed to pay for earlier shipments.

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Earlier this month the price of bread increased from $1 to $1.10 as prices of most basic commodities skyrocketed with the local bond note shedding more than 50% value against the US dollar on the black market. To avoid further increases‚ the Grain Millers Association appealed to the government for a $50 per tonne wheat subsidy.

The cost of making one standard loaf of bread is currently at US$0.84‚ composed of 38% for the flour‚ 16% for the premix‚ 18% for overheads‚ 10% distribution‚ 7% for bakery fuel and the remaining balance on other costs.

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Qatar to withdraw from OPEC come January 2019

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The Gulf nation’s Energy Minister Saad Sherida al-Kaabi has confirmed that Qatar is set to withdraw from the Organization of the Petroleum Exporting Countries (OPEC),



The decision to quit the bloc of 15 oil-producing countries that account for a significant percentage of the world’s oil production was confirmed by Qatar Petroleum, the state oil company, on Monday.

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Al-Kaabi stated their goal when speaking at a news conference in the capital Doha “The withdrawal decision reflects Qatar’s desire to focus its efforts on plans to develop and increase its natural gas production from 77 million tonnes per year to 110 million tonnes in the coming years.”

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Qatar is the first Gulf country to leave the bloc of oil-producing countries.

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Trump says China agree to mitigate tariffs on US cars after trade war ceasefire

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Chinese President Xi Jinping has agreed to cut tariffs below the 40 percent level currently in place on US-made vehicles after the two countries had talks in Argentina.



Trump confirmed the situation on his tweeter handle stating that: “China has agreed to mitigate and remove tariffs on cars coming into China from the U.S. Currently the tariff is 40%”.

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During the meeting in Buenos Aires, the US agreed not to increase tariffs on January 1, as had been planned, while China agreed to immediately buy more agricultural products from US farmers.

If no broader deal is reached within 90 days, the US said it would hike tariffs on $200bn of Chinese goods from 10 to 25 percent.

US Trade Representative Robert Lighthizer said last week that he was examining all available tools to raise US tariffs on Chinese vehicles to the 40 percent level that China was charging on US-made vehicles.

A source reports that the Chinese state media on Monday cautiously welcomed the trade war truce on Monday, without mentioning the US January 1 deadline.

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Asian stock markets opened higher on Monday in the wake of the truce, with Tokyo rising by one percent and Hong Kong and Shanghai rising by more than two percent.

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