Maize prices down 2%, says institute

The opening of some Agricultural Development and Marketing Corporation (Admarc) depots has given relief to consumers with maize prices falling by about two percent, figures show.

Data collected by International Food Policy Research Institute (Ifpri) from 26 markets across the country indicates that on average, maize is selling at K471 per kilogramme (kg) or K23 950 per 50kg bag during the last week of December, two percent less than the previous month.

During the review period, Admarc sales were reported in 17 out of the 26 markets monitored by Ifpri.

Of these, two were in the Centre, four were in the North and 11 in the South.

Reads the Ifpri Malawi monthly maize market report: “The decline is mainly because Admarc depots have started selling maize in most of the markets at lower prices.

“In the same period, the average price of maize was the lowest in Mchinji at K406 per kg and was the highest in Mwanza at K529 per kg.”

Ifpri further said that Mangochi recorded the highest decline of 12 percent in retail maize price between end November and end December.

On the other hand, Mzimba recorded the highest increase in retail maize price of 12 percent, according to Ifpri.

Admarc opened its depots on December 1 and the State produce trader is selling the grain at K300 per kg or K15 000 per 50 kg bag.

In November last year, Minister of Agriculture Sam Kawale was quoted as having said the coming back of Admarc would bring down maize prices, which have hit record highs in recent months, with a 50 kg bag at as high as K30 000.

“We are going to flood the market so that there is a huge supply of cheap maize,” he said.

Maize, as part of the food component, has a huge weight at 45.2 percent in the consumer price index, an aggregate basket of goods and services for computing inflation.