Kenya Corn Prices Decline 20% on Increased Supply, Business Daily Reports

Corn prices in Kenya fell 20 percent this month on improved supply after the country received shipments of the grain from Zambia and Malawi, Business Daily reported.

The cost of a 2-kilogram (4.4-pound) bag of flour currently retails for an average of 120 shillings ($1.28) in the capital, Nairobi, compared with a peak of 150 shillings in July, the Nairobi-based newspaper said, citing Unga Group Ltd. (UNGL) Chief Executive Officer Nick Hutchinson.

The East African nation consumes 3.5 million 90-kilogram bags of the grain, its staple food, annually.

To contact the reporter on this story: Eric Ombok in Nairobi at eombok@bloomberg.net

To contact the editor responsible for this story: Paul Richardson at pmrichardson@bloomberg.net

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