Retail prices of maize increased by 15 percent to K1, 002 per kilogramme (kg) in December 2024, up from K871 per kg in the preceding month, according to a maize market report published by the International Food Policy Institute.
The report, released yesterday, indicates that traders attribute the increase to several factors, including wholesalers raising their prices due to uncertainties about rainfall patterns, which have led to concerns over future supply.
Additionally, the report notes that the limited market supply is worsened by rising transportation costs caused by fuel shortages and an increase in the informal exchange rate, which was seen at an average of K3, 100 to a dollar, further driving up the cost of imported inputs and goods.
“This price trend is comparable to the previous year, which saw a 13 percent increase during the same period. In both years, the largest price surge occurred in the final week of December,” the report reads.
Speaking recently, Agriculture Minister Sam Kawale said that his ministry, together with the Ministry of Trade, has been issuing import licences to traders to buy maize, flour and rice into the country to ensure continued supply.
Kawale said the World Food Programme is still bringing maize and rice into the country in the hope that it will stabilise prices.
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