Food reserves decreased in February – BoT

Dar es Salaam. The National Food Reserve Agency (NFRA) held 86,444 tonnes of food stocks in its reserves as at end of February this year, Bank of Tanzania (BoT) reports.

In the Monthly Economic Review (MER) for month of March, BoT notes that the level was slightly below 86,834 tonnes that was held at end of January 2017 and 88,414 tonnes held at end of February 2016.

According to the report, in February 2017, NFRA sold 401.1 tonnes of maize, of which 316.1 tonnes were sold to prisons and 85.0 tonnes to private traders.

Meanwhile, in an effort to replenish its stock, NFRA purchased 11.32 tonnes of maize from

various sources in the country.

 Prices of Food Crops

According to BoT, wholesale prices for all major food crops were higher in February 2017 compared with February 2016, except for rice.

The report indicates that price levels were also higher than levels of January 2017, except for potatoes.

However, month-to-month food price changes are normally influenced by seasonal harvests, among other factors.