90-Kilogram Bag of Maize Spikes to Ksh 3,400, Unga Prices to be Up Soon

By Soko Directory Team / April 25, 2019



Maize

Kenyan households will be forced to pay more for a packet of maize flour after maize prices increased to 3,400 shillings for a 90-kilogram bag.

Millers have hinted of a possible increase on maize flour prices after a 600-shilling increase on a 90-kilogram bag of maize which initially retiled at 2,800 shillings.

In the past 3 weeks, Unga prices have been increasing steadily and a 2-kilogram packet is averagely retailing at least 119 shillings from 85 shillings one month ago.

Milers have attributed the increase to a shortage of supply in the market.

The chairperson of United Millers Association, an umbrella body that brings together all the small-scale millers disclosed that there was a serious shortage of maize in the market which had resulted in increased prices on the staple commodity.

He blamed the shortage of farmers who are hoarding in anticipation that the price will be going up in the future.

A two-kilogram packet of Jogoo will retail at 110 shillings, having shot from 101 shillings just two days ago

Kenya faces market conditions last witnessed in 2017 when the price of a 2-kilogram packet of maize flour jumped by a third to 135.87 shillings over one year.

Unga Limited raised maize prices by 19 shillings a packet to 110 shillings and with the current situation in the market, the price is likely to increase even more thus hurting household budgets.

Jogoo brand, which was retailing at 90 shillings two weeks ago is currently going at 105 shillings, an increase of 15 shillings.

Other brands such as Soko are selling at 111 shillings, up from 109 shillings with Kifaru selling at 105 shillings.

The millers want the government to move with speed and release stocks of maize from the Strategic Food Reserves at 2,500 shillings in order to cool the runaway cost of the staple.

Maize farmers have shunned National Cereals and Produce Board following a sharp increase of prices in the market, leaving grain agency having purchased just a fraction of the required stocks.



About Soko Directory Team

Soko Directory is a Financial and Markets digital portal that tracks brands, listed firms on the NSE, SMEs and trend setters in the markets eco-system.Find us on Facebook: facebook.com/SokoDirectory and on Twitter: twitter.com/SokoDirectory

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