Market Update 03-06-19
Rains in the North Rift and Western regions set in over the past two weeks. Farmers expect to start planting crops this week through the next. Maize prices dropped as bit as imports begin to make their way across the border. Nairobi – North rift spread elevated slightly over the past few weeks as Ugandan maize begins to trickle into North Rift. Maize flour prices dropped below Ksh 90/2kg.
Maize farmers will have to wait longer to deliver their produce to the cereals board. The National Cereals and Produce Board (NCPB) announced it is facing an acute shortage of gunny bags in more than 30 depots countrywide, slowing down maize deliveries to stores. This is likely to further sow distrust in the organization, and farmers should seek other opportunities to market their product. Higher prices offered at the Board have proven to not necessarily be worth the cost.
The price of maize in Bweyale increased slightly to UGX 830/kg, with prices in the remainder of Uganda remaining steady prices over the past two weeks, Kampala prices coming in around UGX 850. Focus moved to the expected increase in demand from Kenya in the coming months, with cross-border equivalent of UGX 800/kg in Thika and Eldoret not quite at levels encouraging cross-border delivery in significant volumes.
The price of beans increased slightly as both nambale and red kidney beans are trading at UGX 2,000/kg in Kampala and reaching UGX 2,200/kg in some urban centers. Soybeans continue to be in high demand in Uganda. The soybeans in the Ugandan markets have mainly been imported from Kenya and Rwanda, but most of the stocks in the trading centers are moving above market prices or have been contracted to animal feed processors. The next soybean crop is expected between June and July.