Bumper harvests lower bean prices

Dar es Salaam. Wholesale prices for beans have gone down in many regions on Mainland Tanzania, a new report shows.

Weekly reports released by the Ministry of Industries, Investment and Trade (MITI) have shown that whole sale prices for beans have decreased in many regions by an average of 30 per cent, thanks to good harvest season.

The report shows that Arusha region is experiencing the lowest price per 100 kilo bag of rice between Sh90,000 and Sh150,000 on August 10, lower from an average of Sh125,000 and Sh170,000 on May 11 this year.

Contrary to that prices of beans in Shinyanga have slightly increased to Sh180,000 and Sh200,000 from Sh170,000 and Sh180,000 recorded three months before. This is the only region which shows that trend.

In Dar es Salaam beans prices ranges between Sh170,000 and Sh210,000 on August 10, lower than an average of Sh220,000 and Sh230,000 on May this year.

Survey by The Citizen has also established that retail prices for the product in the city has slightly decreased to Sh1,800 and Sh2,300 from the lowest price of Sh2300 and Sh2,800 on the period under review.

Tandika Grains Agency chairperson Mr Peter Sospeter attributed the price fell to increased supply resulted from good farming season in many regions.

“The volume entering my stores has increased and still more farmers want to supply products” said Mr Peter who managers 41 stores in Temeke Double Cabin and added that he expects the volume he receives to decline next month and this trend is happening every year.