List Of 10 Household Commodities Whose Prices Changed In July As Milk Remains Stable
A recent analysis of the Central Bank of Kenya’s (CBK) Agriculture Sector Survey reveals pricing trends for key agricultural and household commodities in July 2024.
While most food prices in the market fell, particularly for vegetables, some commodities rose, potentially affecting household budgets across the country.
The survey found significant price reductions for a variety of vegetables, including tomatoes, traditional greens, spinach, kales (sukuma wiki), and onions.
These decreases were primarily due to favorable weather conditions, which increased supply in local markets.
However, during the month under review, prices for maize products such as loose maize flour, sifted maize flour, and fortified maize flour rose, providing some relief to dealers who rely heavily on maize sales.
The MPC Agriculture Sector Survey for July 2024 can be downloaded at https://t.co/L1RlpRytk7 pic.twitter.com/ANUL2Qcruf
— Central Bank of Kenya (@CBKKenya) August 13, 2024
“Similar to findings during June 2024, the July 2024 survey revealed that a higher proportion of respondents expected, on balance, substantial declines in prices of loose maize grain, loose maize flour, sifted maize flour and fortified maize flour in the next one month,” the report stated in part.
Sugar prices fell modestly, while milk prices remained stable, with little change from June 2024 levels.
However, the survey found a few exceptions to the general trend of declining prices. The price of rice, particularly aromatic unbroken rice varieties such as Pishori and Basmati, has increased.
“They, however, expected some increase in prices of rice reflecting the adverse impact of excess rainfall/ flooding on domestic production,” the report highlighted.
This increase was attributed to the negative effects of excessive rainfall and flooding, which disrupted domestic rice production, resulting in higher prices for this essential commodity.
Looking ahead, the CBK survey predicts that the price decline will continue through August 2024.
They insisted on price changes for fresh vegetables and maize products, citing the expectation that favorable weather conditions will improve market supply even further.
However, rice prices may continue to rise as a result of ongoing challenges in domestic production caused by excessive rainfall, potentially increasing the financial strain on households that rely on rice as a staple.
Overall, while food prices in Kenya are declining in various key commodities, the rise in rice prices raises concerns about household budgets in light of the country’s ailing economy.
List Of 10 Household Commodities Whose Prices Changed In July As Milk Remains Stable
