Food Prices fall due to Oversupply

The volume of commodity supplied at Kariakoo market increased last week, leading to the falling of the foods prices quotation. Market analysts acknowledge the increasing food supply to the markets as the result of the period towards the end of rainfall and commencement of harvesting season of some crops. “There is a higher supply of commodities at the market which has lowered the prices,” Kariakoo Market Corporation General Manager, Mr Florence Seiya, said. The weekly Kariakoo market report shows that a kilogram of Irish potatoes from Mbeya, Iringa, Tanga and Kilimanjaro was available at retail price of TZS 600/800 compared to TZS 700/900 of a week before. Consumers secured a kilo of sardines from Kigoma and Rukwa at the average retail price of TZS 19, 000/20,000, a decline from the previous retail price of TZS 20000/25000. According to Mr Seiya, there has been the increasing supply of commodities in markets since the rainfalls decreased which reduced the purchasing headache of the customers.

That was because at the time of rainfalls, some of the transport and communications network in the producing regions were destructed, making it difficult for the farmers and business people to access markets. “Now the situation is stabilizing and more food stuff will be supplied to the markets,” said Mr Seiya. Rice, which is widely consumed in towns and other areas, had its retail prices stabilized last week, the same with tomatoes.

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