The official Statistics SA price for a brown bread (700 gram) in March 2018 was R11.53 – 65c cheaper than the price in July last year (2017). White bread fell from R13.41 to R12.95. In its interim results released, Pioneer Foods, producer of Sasko bread, said that its bread profit margins declined due to weaker demand and a more competitive environment. During the drought in South Africa’s northern provinces, maize prices spiked and South Africans switched from pap to eating more bread. Since the end of the drought, this has normalised and the demand for bread has subsided. The Chamber is busy with a proposal to National Treasury to consider white bread as a zero-VAT- rated. Finance minister, Nhlanhla Nene recently appointed an independent panel of experts to review the list of zero-rated VAT items. – Business Insider

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