January is not only referred to as Njaanuary because of the hard economic times that come with the first month of the year, but also because of the hike in prices for food items.
As a way of preparing Kenyans for 2024, Kenyans.co.ke takes a look at projected food prices for January.
These projections are based on data from the Central Bank of Kenya (CBK) drawn from its survey of agricultural stakeholders regarding farming activities during the year.
“Respondents expect prices of some consumer goods to rise in the coming months due to higher transport and energy costs attributed to the increase in fuel prices and a rise in import costs due to the depreciation of the exchange rate.
“However, the survey revealed that prices of key food items were expected to decline on account of improved supply due to the ongoing rains,” CBK Governor Kamau Thugge stated during the MPC meeting in December.
Sugar
Sugar has been one of the most expensive household commodities in 2023. Currently, a 2 Kg packet is retailing at over Ksh350.
However, the prices are expected to be maintained in January because of the low production in the local market.
According to CBK Governor Kamau Thugge, the reopening of sugar factories is expected to begin in December. The benefits of increased production may therefore be witnessed much later in 2024.
Maize Flour
Maize flour is among the food items that are expected to drop in January. This is mainly because of the bumper harvests that were witnessed in 2023.
2kg packets of the commonly known brands currently range between Ksh150 to Ksh250.
Rice
Rice prices are expected to rise in January. This is because of the expected decline in production in 2023.
According to the CBK, Kenya has produced approximately, 1.5 million bags of rice, which is a 27.6 per cent drop from the 2022 harvests.
Currently, a Ksh2kg packet of rice is sold between Ksh550 to Ksh600 depending on the type and brand.
Cooking Oil
Cooking prices are expected to remain the same. However, with the Kenya Bureau of Statistics (KEBS) giving a green light for the release of the controversial Ksh17 billion imports, the prices could drop.
One litre of edible oil is currently being sold at between Ksh300 and Ksh400 depending on the brand.
Onions and Tomatoes
Onion prices are expected to remain high in January, according to the CBK report. Fresh produce vendors are currently selling a picking of onions and tomatoes at Ksh10 to Ksh15 respectively.
It was explained that the prices would remain elevated because of spoilage caused by heavy rains.
“The Survey showed that prices of onions and tomatoes were expected to remain elevated in the coming months due to spoilage from high rainfall, transport and import costs.
Vegetables
Vegetable prices are expected to drop in January this is mostly because of the rains that have enabled some farmers to grow the products.
The vegetables in this category include the traditional kales, sukuma wiki and cabbage.
