Corporate News
Low grain prices renew hope of food security
Farmers are not gaining from current price variations because they still have to rely on middlemen to off-load their produce. Photo/FILE
Posted Tuesday, April 20 2010 at 00:00
Local millers say imports from SA can only make business sense if the government either subsidises it or completely removes the import duty.
“Once we exhaust available stock, we will be forced to adjust the cost of flour in proportional to changes in maize import prices,” Ms Paloma Fernandes, the Cereal Millers Association’s Executive Officer said.
The Government has shown resistance to campaigns to subsidise or extend duty free maize import programme.
According to World Bank’s 2010 outlook report, Kenya lost a total of Sh23.4 billion in the last fiscal year both in taxes and in flour subsidies.
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