After eight months of low market prices, farmers can now enjoy a short season of high market prices in the last quarter of 2024. The low food prices are advantageous to consumers but hurt the farmers.
These were attributed to high production, imports and low purchasing power.
This is expected to change in the last quarter of 2024 due to a decline in market supply. Kenya has the largest market for bulb onions in the East Africa region. Onion prices have been high above Ksh 150 Farmgate for almost two years.
The high prices were caused by market scarcity caused by heavy rains and flooding. This year weather conditions were favorable in the region favoring increased production. The results were that the high market supply pushed prices down below ksh 20 per kilo.
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Supply has reduced and prices are increasing currently at ksh 40 per kilo. As we approach the end of the year, the price may rise from ksh 50 to ksh 65 per kilo farmgate.
According to the Economic Survey 2024, Kenya experienced an average rainfall of 1050mm, double the rainfall experienced in 2021 and 2022.
This boosted Maize production to 47 million from 34 million bags harvested in 2022. Consequently, Maize prices fell to Ksh 2000 per 90 kg bag. In 2024, maize production is expected to decline as farms due to rainfall destruction pushing prices up.
Tomato farmers were the worst hit this year resulting in feeding cows with their tomatoes due to a lack of market and poor prices. The bad thing is that tomato prices may remain low as more farmers harvest.
Unlike many Farms’ produce, Potato prices have been high with a bag retailing between ksh 5600 to Ksh 6000. This is about to change as farmers start harvesting in October. This will increase supply and lower market prices.
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