Africa Newsletter 06-14-21

East Africa Update

Flour Prices Fall On Reduced Cost Of Maize Grain
As the maize price in Kenya continues to fall, the price of maize flour has also seen a reduction at shelves with a 2kg packet now quoted at KES 106. Millers are now receiving maize at KES 2,700 per 90 kg bag compared to KES 2,800 per 90 kg bag in the previous two months but millers are still not receiving sufficient supply according to The Business Daily. More stocks are expected to be made available from next month from a short crop in the South Rift and also the new crop coming in from Uganda.

Africa Newsletter 05-28-21

Bread Price To Jump KES 6 On Tax Plan
As the Kenyan government is ready to implement a 16% VAT on bread, bakers have signaled a rise in a loaf by KES 6 as this would increase the cost of production and leave companies no choice but to transfer this extra cost onto the consumer.

Africa Newsletter 05-14-21

Millers in Kenya have seen a shortage of maize in the market due to local farmers holding onto their stocks in the hope of a better price for their grain. A number of millers have been buying maize at between KES 2,800 and 3,000 per 90 kg bag compared to KES 2,000 previously as report in The Business Daily

Africa Newsletter 04-30-21

The cost of importing goods into Kenya via the sea will see a 20% rise in freight costs as the shortage of shipping containers in China has disrupted global trade as the freight rates for a 40ft container have gone up to almost $6,000 compared to $4,000 in March according to The Business Daily.