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NCPB Reduces the Price of Maize

BY · September 3, 2015 08:09 am

The price of a 90-kilogram bag of maize has been reduced from 2,800 shillings to 2,300 shillings below the market cost of 2,900 by the National Cereals and Produce Board (NCPB) which at the same time released 2.4 million bags of maize from the strategic food reserves and gave them to millers in an effort to check the runaway flour prices.

According to the National Cereals and Produce Board, the sale of the reduced price of maize  will be restricted to maize millers and public institutions only in an attempt to lock out middlemen seeking to profit from the sale of the grains that the government had bought at between Sh2,800 and Sh3,000 from farmers last year.

2.4 million Bags of maize being released to millers will be the biggest release of grains from the reserve and the NCPB said it would also help empty their silos ahead of the harvest season that starts this month and the government has already predicted an increased number of maize this year as compared to the previous year.

The moves comes after Kenya National Bureau of Statistics data indicated that the price of a two-kilogram packet of maize flour rose to an average of Sh115 last month, up from Sh112 and Sh110 in April, as a result of rising maize costs.

The fluctuation of maize prices in Kenya has a big effect on inflation in the economy where it is the staple food and accounts for a significant share of poor households’ budget.

 

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