The price of maize has experienced a downturn with the value dropping from Sh3,500 to Sh3,100 a bag. These figures come amid the backdrop of aflatoxin cases which has led to production rejection amid the downturn in consumer demand.
In the follow-up to this, Agriculture Principal Secretary Hamadi Boga had this to say in an interview on the subject.
“Supply and demand is what rules the market. Most of the good maize is also gone, cheap maize may have high aflatoxin levels. So millers have to be more careful.”
He adds that the aflatoxin process checking should begin with the first maize suppliers other than doing the scrutiny at the end product.
Millers have argued the slump sees them lower prices to attract consumers. As of now, a 90-kilo bag fetches a low price of Sh3,100. This was a drop from the high of Sh3,500 achieved last month.
“Frankly, there is no demand for flour hence the lower maize prices,” said Capwell Industries’ CEO, Rajan Shah.
The fall in price and demand comes amid the move by the government to authorise importation of white maize worth two million bags. This was to ease a potential shortage expected within the end month.
