Thursday, October 11, 2018

Prices of beans fall by 10pc in three months

Beans and other agro-products on display at one

Beans and other agro-products on display at one of the stands at Kariakoo Market. The commodity’s retail and wholesale prices have fallen over the last three months. PHOTO | FILE 

By Halili Letea @hletea news@tz.nationmedia.com

Dar es Salaam. The wholesale price of beans has decreased by about 10 per cent in three months, market reports show.

Weekly reports released by the Ministry of Industry, Trade and Investment have shown that wholesale price of a 100-kilo bag of beans went down to an average of Sh150,000 on Monday October 8, from an average of Sh165,000 recorded on July 8, this year.

In Dar es Salaam prices are between Sh140,000 and Sh200,000 which is lower than Sh180,000 and Sh210,000 respectively, depending on the varieties of beans.

A survey by The Citizen has also established that retail prices for the product in the city has slightly decreased to Sh2,200 on Monday this week from the highest price of Sh2,500.

Tandika Grains Agency chairman Peter Sospeter attributed the price fall to increased supply that resulted from good harvests in many regions.

“The volume entering my stores has increased as more farmers want to sell their products,” said Mr Sospeter who manages 41 stores in Temeke Double Cabin.

However, he said the prices may take a u-turn during the end of this year, when the supply volume will slow down, while demand will increase.

Kagera, which is among the leading beans producing regions in Tanzania had the largest area planted with beans (124,142 hectares), followed by Kigoma (99,753 hectares) and Manyara (97,567 hectares).

The report shows that Arusha Region is experiencing the lowest price per 100-kilo bag selling at an average of Sh85,000.

advertisement