Maize prices rising, consumers hit hard
Local maize prices continue to rise on the market, averaging K500 per kilogramme (kg) or K25 000 per 50 kg bag which is way out of reach of most consumers, it has been established.
The current maize price is higher than government’s recommended minimum price of K220 per kg or K11 000 per 50 kg bag. During the same period last year, maize was selling at K146 per kg or K7 300 per 50kg bag.
This means the staple grain has shot up by about 240 percent in a space of 12 months, according to the Centre for Social Concern (CfSC).
CfSC economic governance programme officer Bernard Mphepo said in an interview yesterday that most Malawians are hardly surviving due to rising maize prices given its relevance in the food basket.
“As you know, maize is Malawi’s staple food, as such, the rising price of the commodity has had a huge impact on people’s livelihoods,” he said.
In a statement on the economic situation, Consumers Association of Malawi executive director John Kapito said that rising maize prices have continued to pose challenges to consumers.
He said consumers are exposed to expensive maize amid supply and demand challenges in the market.
Said Kapito: “It was our expectation that government would come up with solutions to such a dire situation but this has not been the case.
“The worst part is the sole trader for maize Agricultural Development and Marketing Corporation was closed, a situation which has left consumers at the mercy of unscrupulous traders.”
Meanwhile, the Famine Early Warning Systems Network (FewsNet) has also projected continued maize price rise as macro-economic conditions continue to worsen.
In its recent Malawi Food Security Outlook, FewsNet said food prices are expected to increase throughout the outlook period, thereby limiting household purchasing power and access for food.
According to FewsNet, maize prices are higher than the five-year seasonal averages owing to increasing inflation pressure, below-average harvest prospects and a higher-than-average farm-gate price set by the government for the 2022 maize buying season.
In Malawi, maize, which is the country’s staple grain, traditionally impacts the country’s economy given its skewed influence in determining inflation rates.
