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Thursday, September 21, 2023
Stanbic Bank
Stanbic Bank
Stanbic Bank
Stanbic Bank

Commodity prices drop in most markets

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The price of groundnuts has dropped in markets like Lira and Owino but most noticeably in Kalerwe market where it eased down by shs500 to retail at shs 5,500, a kilogram. A kilogram further dropped shs250 for wholesalers to buy at shs 4,750, the latest market analysis report released for this week shows.

Traders attributed the decrease to the increased supply of the commodity from markets such as Kaliro in Busoga region that grows considerable amounts of the legume.

Simsim, mainly grown in the north of the country, had its prices drop by shs1, 000 and shs850 for retail and wholesale respectively, as other commodities such as rice (Kayiso), cow peas, fresh cassava, beans, soya beans, among others also had their prices come down.

However, commodities such as sorghum flour and grain, maize flour and millet grain all had price increases due to the increased demand for the commodities. Beef and super rice maintained a constant price due to steady supplies to markets.

Matooke prices on average dropped by shs2,350 on retail and shs2,700 on wholesale and traded at shs23,000 and shs20,650 for retail and wholesale, respectively. Of recent there has been a steady supply of matooke from western region where it is most grown.

Meanwhile the report shows that the average fuel prices across all regions of the country reached shs3,350, shs2600 and shs3550 for diesel, kerosene and petrol respectively.

The eastern region, the nearest to the Kenyan fuel suppliers, had the lowest average fuel prices of shs3000 and shs 3450 for diesel and petrol respectively.

Upcountry, the price of processed honey dropped across markets such as Kabale and Katuna by up to shs1,500 and shs1,000 for retailers and wholesalers respectively trading a litre at shs16,500 for retail and shs14,000 for wholesale.

Traders attributed the drop in prices to a decrease in demand of the honey by local consumers. Despite its benefits most Ugandans don’t consume honey putting the blame on high prices. Suppliers have to find market in neighbouring countries.

The central and western regions had the highest average prices of petrol selling at shs3650 and shs3600 respectively.



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