Njaanuary: Projected prices of Commodities in January 2024.
Njaanuary: Projected prices of Commodities in January 2024: This was based on data from the Central Bank of Kenya (CBK) gotten from its survey of agricultural stakeholders regarding farming activities during the year.
CBK wrote,”Respondents expect prices of some consumer goods to rise in the coming months due to higher transport and energy costs attributed to the increase in fuel prices and a rise in import costs due to the depreciation of the exchange rate.”
“However, the survey revealed that prices of key food items were expected to decline on account of improved supply due to the ongoing rains,” CBK added.
Sugar; At the moment, a 2 Kg packet is retailing at over Ksh350. This prices are expected to be maintained in January citing the low production in the local market. Reopening of sugar factories began in December, benefits of increased production may therefore be evident later in 2024.
Maize; Currently, 2kg packets of the commonly known brands range between Ksh150 to Ksh250. According to CBK the prices are expected to drop because of the harvest in 2023.
Rice;The prices are expected to Shoot in January. This is because of the fact that Kenya has produced approximately, 1.5 million bags of rice, which is a 27.6 per cent drop from the 2022 harvests.
Cooking oil; A One litre of edible oil currently retails between Ksh300 and Ksh400 depending on the brand. Cooking prices are expected to remain the same.
Onions and Tomatoes; Prices are expected to remain high. This because of spoilage caused by heavy rains.
CBK says,“The Survey showed that prices of onions and tomatoes were expected to remain elevated in the coming months due to spoilage from high rainfall, transport and import costs.”
Mboga; Vegetables are expected to drop in January this is mostly because of the rains in November and December.
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