Retail prices of maize increased by five percent in October, when the grain fetched high prices in the Southern Region on average.
This is according to an International Food Policy Research Institute Malawi Monthly Maize Market Report released Thursday.
The report indicates that the prices rose from K692 per kilogramme (kg) in the final week of September to K732 per kg in the final week of October.
It further says the increase in price, occurring at the onset of the lean season, represents a notably more lenient change compared to the same period in the previous season when prices increased by 23 percent.
The report also says the Southern Region recorded the highest monthly average maize retail price of K775 per kg, with the peak weekly retail price of K883 per kg noted in Luchenza in Thyolo.
“The Central Region maintained relatively stable prices, with the monthly average settling at K710 per kg. Two markets in the Central Region even recorded a modest price decline: Mitundu in Lilongwe (four percent) and Mchinji (one percent).
“This can be attributed to local availability of maize as farmers are releasing previously withheld stock to use in purchasing farm inputs and labour as they prepare for the upcoming farming season,” it says.
The report notes that the Northern Region documented the lowest monthly average retail maize price at K585 per kg, with the lowest weekly average price recorded in Chitipa at K505 per kg during the third week of October.
“Towards the end of the month, the region experienced a decline in prices thanks to maize inflows from Zambia and Tanzania,” it says.
Project Officer at Centre for Social Concern Kondwani Hara said the five percent increase in maize prices can lead to higher food costs for households, as maize is a staple food in Malawi.
Hara said this could strain household budgets, particularly those with limited income.
Further, Hara said in light of the 44 percent devaluation of the Kwacha, imported goods and services will become more expensive, which can contribute to higher overall prices in the economy.
He suggests several measures to mitigate the challenges, which include widening social cash transfer nets, diversifying food crops and promoting exporting-led growth.
A Malawi Vulnerability Assessment Committee report of August this year disclosed that 4.4 million people are facing hunger in the period spanning October 2023 to March 2024.
