People can relax knowing that maize prices have dropped by 19 percent, providing significant respite for family finances and reducing inflation concerns. According to a quick survey, the current cost of a 50-kilogram bag of maize in urban areas and key towns across Malawi has decreased to K88,900 from the peak of K110,000 observed in mid-February this year.
In various areas, Zomba reports the highest maize prices at K96,000 for a 50kg sack, 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, flooding the market with prices as low as K50,000 to K60,000 for each 50kg sack. This drives down expenses even more and enhances availability.
Marvin Banda, an economist, forecasts that food inflation is expected to keep decreasing over the coming four months due to enhanced supplies.
Banda clarified that the agricultural production cycle suggests when the harvest enters the market, prices will continue to drop—not only for corn but also for various farm products. Nevertheless, limitations on exporting and importing specific agricultural items might lead to imbalances in supply, which could influence availability and pricing further into the year.
The Consumers Association of Malawi (CAMA) Executive Director, John Kapito, expressed his approval over the reduction in prices, highlighting how this could help decrease inflation and enhance accessibility for consumers. Nonetheless, he advised farmers not to sell all their maize at these present rates, as they might face higher costs later on when crop yields are expected to be smaller.
Kapito suggested that the government should guarantee sufficient resources for food agencies like Admarc and the National Food Reserve Agency (NFRA) so they can purchase corn promptly and store enough supplies for times of scarcity.
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.
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