Government to purchase maize at Ksh3,500 after increased harvest
Government announces plan to purchase 1 million bags of maize at Ksh3,500 each
Government announces plan to purchase 1 million bags of maize at Ksh3,500 each.
The government is set to buy one million bags of maize at Ksh3,500 per 90kg bag to the tune of Ksh3.5 billion.
Agriculture Cabinet Secretary Andrew Karanja in a statement asserted that the move is aimed at building the country’s national strategic food reserve, which is currently at 30 per cent of the proposed food quantities.
In addition, the move also seeks to boost farmers in line with the government’s Bottom-Up Economic Transformation Agenda (BETA) and uplift the profit margins of farmers in the country.
According to the circular that was issued on Thursday, October 31, the set purchase price is aimed at stabilizing the price of unga in the country. The current price of unga according to the CS is Ksh130 per 2kg packet.
The Ministry of Agriculture added that the long rains witnessed in 2024 have positively boosted maize production as projections indicate that the country will have 75,972,332 bags of 50kg maize.
“We are very excited about the expected bumper harvest because this will ensure the country has adequate food,” CS Karanja noted.
The new price is a reduction from the Ksh4,000 price earlier this year, down from Ksh4,500 in 2023 which has been influenced by the rising number of maize harvests in the last two years.
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Recent market data shows that maize prices have been fluctuating due to various factors, including high input costs and unpredictable weather patterns.
However, farmers have for long advocated for stable prices from the government as they seek to get value from their produce. The government has in its defense argued that budgetary constraints and the volatile nature of the global economy as some of the reasons behind the price fluctuations.
The new development looks to deal a big blow to farmers who had harbored hopes of an increase in the government purchase price. The farmers were looking into getting more profits amidst the bumper harvest that they were looking forward to.
Meanwhile, the Kenya National Bureau of Statistics (KNBS) recently announced that the price of 2kg fortified and sifted maize flour decreased by 1.7 percent and 1.8 percent respectively in the month of October.
According to KNBS, the reduction in the price of the above commodities contributed to the decline in the inflation labels from 3.6 percent in September to 2.7 percent in October this year.
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