By Isaac Salima & Jarson Malowa:

Malawians are feeling the pinch of unstable commodity prices on the market, The Daily Times has established.

The Daily Times crew has been monitoring market trends for 11 weeks now, when prices of goods and services have been rocketing on daily basis.

Analysis say the problem can be resolved by ensuring stable flow of foreign exchange, which they claim cannot be addressed within a short time.

Cross-border Traders Association of Malawi President Steven Yohane said forex shortage was the root of all challenges Malawians were experiencing.

“We are not producing more, in terms of export products.

“We, as traders, are at the receiving end as we can no longer find forex in authorised dealer banks. The forex is found on the black market, where it is being sold at higher prices,” he said.

On the black market in Zomba Monday, black market dealers were trading the United States Dollar at K3,500.

In Blantyre, other black market operators were peddling it at K3,600.

For the past three months, consumers have been subjected to an increase in basic commodities such as maize flour, relish, cooking oil and bread.

For instance, a two-litre bottle of cooking oil, which was selling around K10,000 in October last year, is now fetching K13,000.

Last week, some shops adjusted upwards prices of bread, with some types of bread being sold at a minimum of K2,500 or K3,000 from K1,800.

According to recent data from the Centre for Social Concern, which tracks the cost of living, the cost of basic needs items in Malawi is around K520,000 for a family of six people.

Emily Mussa from Chilomoni Township in Blantyre said that life was becoming unbearable for low income earners in the country.

“I receive K120,000 per month but if I break it down for you, you will feel sorry for me. Look at a bag of maize! Transport fares have gone up. I need money for lunch at work and also for my family. I have not included rent and school fees,” Mussa said.

In Zomba, Matawale-based Byson McPherson Chirwa, 34, said he had just lost a job last month, ostensibly because the security company he was working for has lost a contract.

“The company I was working for [name withheld] just lost a contract because the company that hired our services just terminated the contract due to poor turnover. They were not selling enough plastic materials and decided to part ways with our company.

‘The fact that they are willing to compromise on security means things are getting hard for some business operators,” said the father of four.

Consumers Association of Malawi Executive Director John Kapito said consumers should brace for tough times ahead.

“The Kwacha's [value] is affected because there is not enough forex in the country. It has been depreciating on a daily basis. I do not know what ne