Maize Prices Declined by up to 5.7% MoM in January in Kenya Due to High Supply

Kenyan farmers and traders have released a large amount of maize that was stocked up into the market to take advantage of comparatively higher prices before February 6, when the import window begins, as this will see prices drop even further. In W3, the increased maize supply in the market caused maize prices to drop by 4% and 5.7% MoM at the farm gate and factory gate respectively, compared to the same period in December. At the farm gate, the maize price stood at USD 39.02/90kg bag in W3 compared to USD 40.65/90kg bag in December. With the improved supply, processors are now selling a bale of maize flour at USD 15.85/24kg, which is 6.25% lower MoM.