Maize prices have eased as farmers rush to sell their produce ahead of next month’s opening of the import season.
A 90kg bag of maize is currently retailing at KES 4800 from KES 5800 as farmers offload thousands of bags. In turn, the price of flour has declined from Sh2,080 to Sh1,950 per bale ex-factory.
“We have to sell the produce at the present competitive prices considering that the prices are likely to plunge once the imported cereals come into the market,” said James Kosgei from Sergoit, Uasin Gishu County, as quoted by Nation.
The Ministry of Agriculture has allowed traders to import 900,000 tonnes of duty-free white maize and 600,000 tonnes of milled rice from next month up to August.
Farmers in North Rift, where harvesting is still ongoing in some parts, are panic selling to avert possible losses once traders flood the market with cheap imports.
The decline in maize prices is a pain for farmers grappling with rising production costs. For instance, the Kenya Seed Company has increased the cost of maize seed, with a 25-kilogramme bag going for KES 4,700, up from KES 4,500.
Read also; Maize Prices Hit Historic High of KES 6,000 Per Bag as Crisis Looms.
