Indian Soft drinks manufacturer, Varun Beverages has increased soft drink wholesale prices.
The company’s sales agents on Monday began notifying retailers of the latest price increase which is likely to be passed on to the consumer.
Varun Beverages has increased soft drink wholesale prices from ZWL 89.76 for the case of 24 to ZWL 170.
A snap-survey by this reporter reveals that most retail outlets have no Pepsi stocks amid reports the retail prices will shoot up.
This comes after prices of basic commodities shot up significantly over the past months as retailers responded to rising inflationary pressures, stemming from a depreciating local currency and foreign currency shortages. Confederation of Zimbabwe Retailers (CZR) president Denford Mutashu said that the pricing environment now resembles a jungle as consumers bear the brunt against constantly eroding wages and salaries.
“The habit of speculative pricing has replaced sanity in most pricing models. The equivalent of the same unit prices of similar brands in other countries will tell you that, sometimes it’s not about costs but defiance.
Varun has operations in Zambia, Kenya, Uganda, Mozambique, Morocco and Nigeria. Jaipuria, India’s cola king and PepsiCo’s second-biggest bottler.