According to a survey that was made public on Tuesday, April 9, a number of food items are likely to hike this April. Customers have been warned by the most recent Agriculture Survey of March 2024 that there will be a spike in the cost of staple foods like rice, potatoes, and tomatoes during the course of the next month.
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Food items whose price will rise this April
While most forecasts indicate a decrease in retail prices, there is a chance that some products, like onions and tomatoes, will see price increase.
“However, only 60 per cent of respondents expected an increase in onion prices in the March survey compared to 70 per cent in the February 2024 survey,” stated the report.
Furthermore, it is anticipated that the prices of cooking fat and oil will slightly decrease in April 2024 due to a decrease in the global prices of edible oils.
The most important factors were found to be labor costs, input prices, weather, and transportation costs; however, fewer farmers than in previous surveys mentioned all four of these factors.
“The reduction in the share of farmers citing transport costs and weather conditions as key challenges could reflect the relatively lower fuel prices and supportive weather conditions in March 2024,” the report stated.
More food items that are likely to hike
As per the survey, there were significant drops in the costs of different varieties of maize flour during the initial quarter of 2023, which was ascribed to heightened output after favorable precipitation in 2023.
Onions, potatoes, and tomatoes, however, continue to command high prices because demand is greater than supply. According to the survey, demand from both local and regional markets is driving an overall positive outlook for onions, even though projected price increases have somewhat decreased.
“Onion prices remained elevated as observed in both February and March 2024 surveys, and respondents expected a further increase in April 2024.”
“However, the impact of the harvest on prices was expected to be dampened by the high demand for onions both locally and within the East Africa Community (EAC) region,” the report noted.
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The poll also revealed a slight drop in sugar prices, which have been leveling off since October 2023 as a result of nearby sugar companies starting up again.
“The price of sugar has been declining gradually and was lower in March 2024, compared to February 2024, with some outlets posting prices of about Ksh 330 per 2kg packet,” noted the report. Anticipations indicate additional reductions, supported by the resumption of operations of nearby sugar factories and a worldwide decline in sugar prices.
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