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Kenya Corn Prices Fall 20% on Increased Supply, Bus. Daily Says

Aug. 9 (Bloomberg) -- 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. 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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