Wheat products prices including bread is set to go up as pressure from the Russia-Ukraine war mounts and has seen the wheat flour prices rise to 10 per cent last week.
The millers are now paying Sh 57,000 for a tonne of wheat once it lands at Mombasa from the previous Sh 45,600 in January, signifying a 25 percent jump.
Millers say the pricing increase is due to expensive replacement of wheat stocks at a time Ukraine and Russia are at war which has limited supplies.
Processors have cautioned the cost of wheat products is to rise further in the coming days as the current jump in wheat cost has not been fully factored in the recent hike.
A two-kilo packet of Ajab, has shot from Sh 157 last week to retail at Sh 168 currently with Pembe and Exe selling at Sh 168 and Sh 161
A hike in wheat products prices
respectively.
Rajan Shah, chief executive officer of Capwell Industries says,” the cost of wheat has now become uncertain as its on a steady rise every day. The cost of replacing the stocks that we have at the moment is way too high.”
The wheat price has been on a steady increase since February 24 when Russia announced that it would be attacking Ukraine.
This has affected Kenya since the two countries supply us with 66 percent of the total wheat that is consumed locally while the current war has resulted to logistical challenges with export bans hurting the prices.
Ukraine had introduced export quotas on wheat to protect its local population from a shortage that may be occasioned by the ongoing war.
