New levy to increase food imports cost starting July

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Traders that fail to pay the levy face an interest rate of 25 percent on the outstanding amount for the first month in which the trader default.

Photo credit: File | Nation Media Group

Kenya, which is a net importer of food, has slapped a two percent levy on import of cereals including maize, rice and wheat in what is set to raise the price of these commodities for consumers.

In a notice by the Agriculture and Food Authority (AFA), the government has also slapped a 2 percent levy on the custom value of imports of legumes and pulses including beans, lentils, soybeans and peanuts, and a 1 percent levy on the import of roots and tubers such as potatoes, cassava, sweet potatoes and yams.

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Note: The results are not exact but very close to the actual.