Africa Newsletter 09-11-20
East Africa Update
Traders Livid As Kenya Port Authority Offers Transit Goods Free Storage
Kenya’s Port Authority has stated that it will not increase the free storage period for cargo coming into the country, apart from those that are destined to further East African countries, after a 90 day period was granted in May. The KPA authorized an extension for goods in transit but declined to include local Kenyan importers who now have a week to clear their goods or risk penalties from authorities.
The Nation reports on how this has left a number of local importers upset with the KPA by favoring goods in transit and them facing charges which include between USD 30 and USD 90 per day for cargo that stays at the port of Mombasa beyond any free period issued.
Owners of cargo that has been cleared and released by the Kenya Revenue Authority but have not been collected after 24 hours face charges of USD 100 for a 20ft container and USD 200 for a 40ft container.
Uganda Market Update
Maize in the Kampala area is trading circa UGX 720 per kg as more of the grain from upcountry has entered the capital city’s main trading centers for distribution. The grain stored in the city center has been seeing interest from Kenyan traders as the moisture levels have now reached the required levels below 14%.
Maize bran is still trading at UGX 550 per kg while Nambale beans trade at UGX 3,300 per kg, Yellow beans is at UGX 3,500 per kg, and soybeans being quoted at UGX 1,250 per kg in Kampala.
Rwanda Farmers Call For Extension Of Subsidies
Farmers in Rwanda are calling on their government to extend the subsidy program for agrochemicals and fertilizers after a spike in local prices has affected the production plans for a number of stable food products.
According to Rwanda Today, the coronavirus pandemic has topped off a difficult period for farmers as they had been spending more on their production while the usual market destinations have been unstable and not reliable. So farmers have seen prices rise for the widely used Dithane, Thiodan, Thiopu among other chemicals.
In the current market, one kilogram of Dithane is at Rwf 3,400 from Rwf 2,500, Thiodan increasing to Rwf 2,100 from Rwf 1,000 and a pack of Thiopu is now Rwf 5,000 from Rwf 4,000.
Find our report Hot Commodities at panxchange.com/hot-commodities