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Prices of beans fall by 10pc in three months

Posted on October, 12, 2018 at 11:01 am

Dar es Salaam. The wholesale price of beans has decreased by about 10 percent in three months, market reports show.

Weekly reports released by the Ministry of Industry, Trade and Investment have shown that wholesale price of a 100-kilo bag of beans went down to an average of Sh150,000 on Monday October 8, from an average of Sh65,000 recorded on July 8, this year.

In Dar es Salaam prices are between Sh140,000 and Sh200,000 which is lower than Sh80,000 and Sh210,000 respectively, depending on the variety of beans.

A survey by The Citizen has also established that the retail prices of the product in the city has slightly decreased to Sh2,000 on Monday  this week from the highest price of Sh2,500.

Tandika Grains Agency chairman Peter Sospeter attributed the price fall to increased supply that resulted from good harvest in many regions.

“The volume entering my stores has increased as more farmers want to sell their products,” said Mr Sospeter who manages 41 stores in Tandika Double Cabin.

However, he said the prices may take a u-turn during the end of this year when the supply volume will slow down, while demand will increase.

Kagera, which is among the leading beans producing regions in Tanzania had the largest area planted with beans (124,142 hectares), followed by Kigoma (99,753 hectares) and Manyara (97,567 hectares).

The reports shows that Arusha Region is experiencing the lowest price per 100-kilobag selling at an average price of Sh85,000.

Source: The Citizen