Kenyans are anticipated to allocate more of their budget to six food items in October, as prices are predicted to surge due to prevailing market conditions. According to the September Agriculture Sector Survey Report published by the Central Bank of Kenya (CBK) on Friday, sugar and cooking oil prices are projected to climb due to increased electricity costs and elevated importation expenses.
On the flip side, rice, beans, and green grams are also poised to experience price hikes due to reduced production on farms. For instance, heavy rainfall earlier in the year impeded bean production, with farmers lamenting damage to their crops.
The report also suggests that the prices of both processed and unprocessed milk could rise as farmers resort to processed feeds while awaiting the onset of the short rains.
However, it’s worth noting that the report did not provide specific details on the expected price increases.
As a result of these anticipated price hikes, Kenyans might be compelled to explore more cost-effective methods of acquiring these essential yet costly food items.
At present, a liter of cooking oil is retailing between Ksh320 and Ksh350, while most 1 kg rice brands are priced at Ksh300. Sugar, in 1 kg quantities, is currently being sold for between Ksh210 and Ksh220. In contrast, a 500ml packet of milk is trading at Ksh55 to Ksh60.
Conversely, other food items, such as maize, are expected to see a drop in prices during the month, as indicated in the report’s “Balance of Opinion.” This is attributed to the ongoing harvest in many parts of the country.