Customers can relax as the cost of maize has dropped by 19 percent, providing significant respite for family finances and reducing inflation concerns. According to a quick poll, the typical price for a 50-kilogram bag of maize in urban areas and key towns across Malawi is currently MK88,900, which is lower than the peak of MK110,000 observed in mid-February of this year.
In various areas, Zomba reports the highest maize prices at K96,000 for a 50kg bag, with Lilongwe following closely behind at K90,000 to K92,000. Maize costs reach up to K90,000 in Blantyre, Mangochi, and Mzuzu; however, cheaper alternatives range between K75,000 and K80,000 can be found in both Mzuzu and Mangochi.
The largest benefit for customers arises from the abundance of newly harvested corn, available in the market at considerably lower prices ranging from K50,000 to K60,000 per 50kg sack. This continues to decrease expenses and enhance availability.
Marvin Banda, an economist, forecasts that food inflation is expected to keep decreasing over the coming four months due to higher supplies.
Banda pointed out that according to the agricultural production cycle, when the harvest enters the market, prices will continue to drop—not only for corn but also for various farm products. “Nevertheless,” he added, “trade limitations on specific agricultural items might lead to imbalances in supply, which could impact availability and pricing further into the year.”
The Consumers Association of Malawi (Cama), as represented by its Executive Director, John Kapito, expressed approval over the reduction in prices. He highlighted how this could help decrease inflation and enhance purchasing power for consumers. Nevertheless, he advised farmers not to sell all their maize at these reduced rates, predicting possible future price increases later in the year when crop yields might be smaller.
Kapito recommended that the government should guarantee sufficient resources for food agencies like Admarc and the National Food Reserve Agency (NFRA) so they can purchase maize promptly and store it for times when supplies are scarce.
As maize prices stabilize and inflation appears to be decreasing, Malawians can anticipate lower costs for essential foods, which will provide significant financial respite to families across the country.
Provided by SyndiGate Media Inc. Syndigate.info ).
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