Kenya sets purchasing price of maize

14/11/2018,

On 5 November, the Government, through the Strategic Food Reserve (SFR), announced the new purchasing price of maize, which was set at KES 2 300 (USD 22.26) for a 90 kg bag, significantly down from the previous level of KES 3 200 (USD 30.97). In general, the state purchasing prices are based on prevailing market prices, domestic output, regional supplies and production costs. The decline, which comes after two consecutive increases in 2016 and 2017, mainly reflects the overall good domestic supply situation and low market prices, as a result of imports and favourable prospects for the 2018 long rains main season harvest, currently underway and forecast at 10-15 percent above-average. The targeted volume to be procured through the National Cereals and Produce Board (NCPB), the body responsible for maize procurement, is of 2.5 million bags.

Country: Kenya