Wholesale commodity prices ease in East Africa
Wholesale maize and bean prices have started to drop in Dar es Salaam as a result of the on going harvesting in most of the growing areas in Tanzania. Dar es Salaam Maize prices during June dropped by about 12% compared to January 2008. According to the price statistics maintained by RATIN, Kampala wholesale prices have also started to fall beginning early July as early harvesting starts. Information reaching our office from Busia border indicates that maize supplies have increased to Busia despite the low demand from Kenya putting a downward pressure on maize prices. This is due to the fact that traders have suspended trade due to some uncertainties. Some of this maize would have otherwise been destined for Juba in Sudan. The wholesale maize and bean prices have declined at Busia in July compared to June. Wholesale maize prices declined to USD 308/MT from USD 400/MT while bean prices declined to USD 785 from USD846/MT during the same period. In Kenya and Rwanda, there has been no relief on commodity prices, wholesale maize prices for example in Nairobi have continued to rise. The estimated rise in the maize wholesale prices in Nairobi compared to January is 80%. The current regional price for maize in Nairobi, Kampala, Dar es Salaam and Kigali are USD 327, 353, 241 and 378 /MT respectively.
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