A packet of milk will from Thursday cost less by Sh. 10.
Cabinet Secretary for Agriculture, Willy Bett said the drop resulted from government interventions to stabilise basic commodity prices that have skyrocketed due to drought.
This means a 500ml packet of fresh milk will now cost Sh55 while UHT packets of the same size will retail at Sh65.
The pricing will take effect on June 1 which is World Milk Day.
Brookside and New KCC had on Monday announced the same drop in price in their commodities.
”The forces driving market correction have commenced, with a major change being the improved supplies from farmers. We will continue to observe the motions in the market and react accordingly. Eventually, the markets are expected to reach an equilibrium level,” said John Gethi, Brookside Dairies director of milk procurement.
Bett also assured Kenyans that sugar prices would stabilise in two weeks. He said a kilogramme will cost about Sh100.
Bett noted the high sugar prices were worsened by the scarcity of the commodity in the COMESA region.
“The countries could not meet the quotas we normally give,” he said. “I assure Kenyans that in a week or two, the price of sugar might be the lowest they have ever seen,” he said, adding the effects of interventions cannot be felt immediately.”
He added that the removal of duty on sugar imports will see a 50kg bag retail at Sh5,500 from between Sh8,000 and Sh9,000.
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