Friday, September 7, 2018

Prices of finger millet tumble 10pc over increased supply

 

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

Dar es Salaam. Wholesale prices of finger millet have fallen by an average of 10 per cent in many regions, The Citizen can tell.

A survey has established that prices of finger millet started to decline since early June in Dar es Salaam due to increased supply.

At Tandika, Kariakoo and Temeke-Double Cabin grain markets, it was noted in the survey that wholesale prices of a 100-kilo bag of the product went down to Sh120,000 and Sh150,000 on August 3, from an average of Sh160,000 logged on June 4, this year.

At the same time retail prices of a kilo of finger millet fell to an average of Sh1,600 from Sh2,000 on the period under review.

Data from the Ministry of Industry, Trade and Investment for August 3 shows that the prices have decreased in many regions, in Mainland Tanzania, with the lowest price of Sh80,000 observed in Ruvuma, while the highest price of Sh180,000 was recorded in Mtwara.

Wholesales attributed the trend to an increase supply due to good harvests in several major crop growing regions.

Mr Peter Kato retailer and wholesaler at Temeke Double Cabin said the volume he was receiving now has improved.

“I receive between 90 bags and 150 bags in a week more than an average of less than 50 bags two months ago,” said Mr Kato who manages 41 grain stores in that area. He also expects the supply to fall further in December.

According to the Ministry of Agriculture data, finger millet was only grown in Tanzania Mainland with a total of 74,086 growers engaged in production in 2017 with a total planted area of 32,364 hectares.

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