Different Prices for Each Region
- The Southern Region recorded the highest average price at K870 per kg, reflecting a 12% drop from January’s K991 per kg.
- The Central Region saw a steeper decline of 16%, with prices falling from K911 per kg to K769 per kg in February.
- The Northern Region enjoyed the lowest prices, averaging K643 per kg in February compared to K710 per kg in January.
Weekly Data Showing Maize Prices Decline
Factors Contributing to the Decline:
The report attributes the price decrease to the start of the garden maize harvest by some farmers, leading to a greater supply of maize available to traders. This increased market availability has helped to stabilize prices.
The International Food Policy Research Institute (IFPRI) report also highlights the role of the Agricultural Development and Marketing Corporation (ADMARC) in influencing market prices. ADMARC sales were documented in 22 out of the 26 markets monitored, contributing to a more balanced supply and demand dynamic.
Impact on Consumers:
Consumer rights groups, like the Consumers Association of Malawi, have expressed optimism about the price drop. A decrease in maize prices translates to a lighter burden on consumers’ wallets, especially considering maize’s significant weight (53.7%) in Malawi’s Consumer Price Index (CPI). As maize prices rise, the cost of everyday essentials tends to follow suit.
Download the IFPRI February 2024 Maize Data Report
You can read the IFPRI February 2024 Maize data report which comes in PDF, simply download it from our servers.
Looking Ahead & What We Think:
The decline in maize prices is a positive indicator, potentially leading to a reduction in flour prices as promised by the Minister of Agriculture, Sam Kawale who has been quoted on several interviews including his latest with Zodiak interview that aired this past Sunday night promising the price of Maize to go down and it seems, he was right. Let us hope this decline continues and let us hope this decline continues and translates into a more stable and affordable food market for Malawians in the long term.
Here are some of our suggestions to keep maize prices low in Malawi:
- Continued Support for Smallholder Farmers: Investing in programs that improve yields and empower smallholder farmers can increase overall maize production, reducing reliance on market fluctuations. Meaning we need a more transparent system of the whole process.
- Diversification of Crops: Encouraging farmers to plant a wider variety of crops can lessen dependence on maize as a sole source of income and food security. This can help mitigate price shocks and general panic from Malawians if maize prices rise again. We cannot just depend on Maize, we are in 2024 please guys, let us diversify our food, today, not tomorrow.
- Improved Storage Facilities: Post-harvest losses due to poor storage significantly impact maize availability. Investing in better storage infrastructure can help maintain a steady supply of maize throughout the year. We should install 24/7 CCTVs at all storage facilities to reduce the theft, this would help a lot and the public should get monthly reports and an audit team should audit the videos monthly; give the job to the guys over at the e-Government of Malawi to work with the ICT guys in the agriculture departments.
This would further improve affordability for Malawians. With continued focus on agricultural production and market stability, Malawi can strive for long-term food security and a more predictable food price market. It is not good to keep wondering what the price of Maize will be each day you wake up, eish!