Maize prices have hit Sh3,400 per 90-kilogramme bag with millers warning of record flour prices as the grain shortage intensifies.
The price of the staple has increased steadily in the past three weeks from Sh90 when cost of a bag of maize was Sh2,800 to the current Sh119.
The price increase has been attributed to shortage of supply in the market.
“There is a serious shortage of maize in the market, as of today (yesterday) the current price of the commodity was Sh3,400,” says Peter Kuguru, chairperson of United Millers Association, umbrella body that brings together all the small-scale millers.
Mr Kuguru blames the shortage on farmers who are hoarding in anticipation that the price will be going up in the future.
The millers want the government to move with speed and release stocks of maize from the Strategic Food Reserves at Sh2,500 in order to cool the runaway cost of the staple.
Maize farmers have shunned National Cereals and Produce Board following a sharp increase of prices in the market, leaving grain agency having purchased just a fraction of the required stocks.