Kenya's Sugar Pricing Committee cuts cane prices by 14 percent

Published 2024년 4월 8일

Tridge summary

In response to a decrease in retail sugar prices in Kenya, the Sugar Pricing Committee has announced a 14 percent reduction in the price of sugarcane, setting it at Ksh5,100 per tonne from April 8, 2024. This adjustment, down from Ksh5,900, is aimed at ensuring fair returns for both growers and millers amidst the changing market dynamics. The reduction in sugar prices, with a two-kilogramme packet now priced at Ksh390, follows government efforts to stabilize the market through increased imports and enhanced mill efficiency, alongside a boost in local sugar production due to sugar factories resuming full operations in December. This decision is set against a backdrop of global sugar price fluctuations, notably influenced by India's export restrictions to safeguard its local stocks.

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Original content

Kenya's Sugar Pricing Committee has implemented a 14 percent reduction in the price of sugarcane, responding to a concurrent decrease in the cost of the commodity on the retail market. In the most recent review, the committee, mandated with periodically assessing sugarcane prices, revised the cost from Ksh5,900 per tonne in March to Ksh5,100, marking one of the sharpest cuts in recent months. "The second Interim Sugar Pricing Committee held a meeting on Thursday April 4, 2024 in Kisumu. During the meeting to review sugarcane price, the committee resolved that the new sugarcane price will be Ksh5,100 effective Monday April 8,2024," said the Head of Sugar Directorate Jude Chesire in a letter to stakeholders. Agriculture and Food Authority cited a notable decline in retail sugar prices as the driving factor behind this adjustment. Presently, a two-kilogramme sugar packet is available at Ksh390, down from Ksh450 in August of the previous year. However, data from Kenya's statistics ...

Source: All Africa