Wholesale food prices fall: BoT

Dar es Salaam. The wholesale prices of food commodities fell during the year that ended in May this year compared to those of the year that ended in May, 2017.

Bank of Tanzania Monthly Economic Review for June has shown that the drop of prices was experienced on maize, rice, sorghum, potatoes and finger millet. However, only beans experienced an increase in price during the period.

The major slide were experienced on maize, sorghum and potatoes which fell between 15 and 53 per cent while the prices for finger millet and rice slightly decreased by less than six per cent.

The wholesale price of a 100-kilo bag of maize dropped by 53.6 per cent to Sh41,850 in May from Sh90,149.9 recorded a year before, while the price for sorghum went down by 23.5 per cent to Sh91,327.2 in May from Sh119,452.7 last year.

On the monthly basis, the price for sorghum increased by 19.2 per cent to Sh91,327.2 in May this year from Sh76,636.7 recorded in April this year.

According to statistics by the Ministry of Industry, Trade and Investment, the wholesale price of a 100-kilo of potatoes fell by 15.9 per cent to Sh70,983.6 in May this year from Sh84,358.4 recorded in May last year.

However, on the monthly basis the wholesale price for the commodity increased by 1.5 per cent to Sh70,983.6 in May from Sh69,903.5 recorded in April this year.

The price for finger millet also fell by 5.9 per cent to Sh154,788.6 in May this year from Sh164,447.3 in May last year but on the monthly basis, the price of the commodity increased by 14.9 per cent from Sh134,750.6 recorded in April 2018.

Rice price fell by three per cent to Sh170,952.5 in May this year from Sh176,330.5 recorded in May 2017 and Sh195,545.6 in April 2018.