In the month of October, Kenyan consumers are bracing themselves for higher expenditures on six essential food items as a result of prevailing market conditions.
The Central Bank of Kenya (CBK) recently released its Agriculture Sector Survey Report for September, painting a rather somber picture. It predicts that prices for sugar and cooking oil will see an uptick, driven by the escalating electricity costs and soaring importation expenses.
Rice, beans, and green grams are also poised to become pricier commodities due to reduced production on local farms. The production of beans suffered a significant setback earlier in the year, as heavy rains wreaked havoc on crops, leaving farmers to bemoan the damages.
Interestingly, the cost of both processed and unprocessed milk could witness a gradual climb. This hike is attributed to farmers resorting to processed feeds to supplement their livestock's diets as they await the commencement of the short rains.
There is a glimmer of hope for sugar consumers, though, as the report suggests that sugar prices might find some moderation. This optimism stems from the anticipated reopening of sugar factories in October, coinciding with the sugarcane harvest season.
Regrettably, the report did not delve into specifics regarding the extent of these expected price increases.
With the looming price hikes, Kenyan households may be compelled to adopt cost-saving strategies, given the significance of these six food staples. Currently, a liter of cooking oil is priced between Ksh320 and Ksh350, while most 1 kg rice brands retail at Ksh300. Sugar, on the other hand, is currently being sold between Ksh210 and Ksh220 per kilogram. A 500ml packet of milk typically trades at Ksh55 to Ksh60.
On a brighter note, some food items, such as maize, are anticipated to see a decrease in price during October. The report indicates that there is an overall expectation of declining retail prices for grain maize and maize products in October 2023, thanks to the ongoing harvest in various parts of the country.
In light of these impending price increases, here are some tips to help consumers save on food costs:
- Buy food items in bulk to take advantage of potential discounts.
- Shop at more affordable stores and supermarkets to find better deals.
- Be mindful of reducing wastage during cooking to maximize the use of ingredients.
- Cut back on ordering cooked food from stores and opt for home-cooked meals.
- Look for goods on special offers or promotions to save on your grocery bill.