₦airaland Forum

Kenya's sugar retail prices remain high despite duty-free imports

Duty-free sugar imports, which were allowed into Kenya from January, have failed to cool off high retail prices. Data from the Sugar Directorate indicates that the volumes imported between January and March were 93,000 tonnes against 46,000 in a similar period last year. The sharp increase in import volume was on the back of the waiver on duty to allow the shipping of cheap commodities to address a shortage th has kept prices high. The directorate says the average pric sugar is Ksh157 ($1.15) a kilogramm up from Ksh150 ($1.10) in January, citing the rising cost of a shortage locally. Duty-free import of sugar is part of a wider government plan to lower the high cost of goods.

Locally, production has been inhibited by diminishing cane supply on the farms. The shortage of cane has seen millers grapple with the little available pushing the price of a tonne of the commodity from Ksh4,584 ($33.58), which is the recommended price by the sugar directorate, to Ksh5,250 ($38.4)
The diminishing supply of cane to factories, which has cut down on production activities, saw the total sum bagged in the review period decline by 26 percent to 49,761 tonnes. The decline in production will compel consumption due to low supply in the market. Outside Comesa The first two vessels with more than 42,000 tonnes of sugar docked in February to ease the pain of the decline in production by local millers. The government opened an import window in December that would see traders ship in 100,000 tonnes of sugar outside of the Common Market for Eastern and Southern Africa (Comesa region to curb an imminent shortage the country that had pushed up the cost of the sweetener to Ksh312 ($2.29) fo two-kilo packet. The state has also allowed the Kenya National Trading Corporation to impo a further 200,000 tonnes duty-free.

purples25:
My little sketch on a Real City called Nairaland ...lol.

darkwan:
shattap your useless face....!!

idioot....
wetin consighn nigeria with kenya....??

respect yourselves,yes....??
did we nigerians told you to go piss off the ghanaians....??

mira lunatics....

rvp20182:
Reform your corrupt incompetent army n police..deal with welfare, equipment and morale..Reforms are painful..you're not ready because you fear return of military dictatorship.How can you transform your militia of 300k poorly trained,paid n unprofessional forces when you fear them..when they routinely beat you in streets.kdf beating civilian is unheard of in Kenya..ultra discipline, well paid,well kit, life insurance, well educated and well motivated

rvp20182:
Total fertility rate below 3 or 2.8.Education & literacy approaching 95..with education quality highest in Africa and decent basic infrastructure.The first will radically transform domestic savings n investments from household upwards. Education is of course greatest denominator n predictor of many things. The last is facilator or enabler.

rvp20182:
You're half way..those are macro economics reforms that are indeed imperative..invest in security heavily using money from stupid petrol subsidy... fix electricity that preventing south Nigeria from taking off..fix education that preventing North Nigeria from emerging from stone age. Fix macroeconomics, fix security, fix electricity and fix education. THEN WE CAN TALK...Nigeria unlikely to make any single reform though as it state if dysfunctionalism has become normal

rvp20182:
Well diversified economy like Kenya is very resilient..don't waste time betting on it..Nigeria oil based economy is in trouble. Kenya we are about to harvest fruit of our hardwork..in education, demographics and infrastructure. We are going soon into economic takeoff akin to what'd now happening in Veitnam,Bangladesh and India.Focus on important things and you might take off like is about.Meet the preconditions of take off.

rvp20182:
Magufuli was your twin - small minded who think development is running around like headless chicken. We had Moi doing that for 24yrs and the results was a collapsed economy.

Economy is run through BRAINS - not brawl. Magufuli was fingered by IMF for cooking data - after he realized - his running around produced opposite effect - low economic growth.

Under Jakaya Kikwete - TZ economy was growing at 7% - now you're doing 3-5%. You're not growing. Kenya has increased the gap on you.

KES is free -floating but IMF & many thought it was over-valued (@100) - this USD run has done the devaluation(130) - it's now where it supposed to be. Uhuru had also mismanaged thanks to self-interest the forex market - with crooked banks cashing a billion dollars - as inter-bank forex collapsed and opaqueness set in - infact even black market was starting in Kenya. Those are now sorted. KES is free floating, forex market and the rate you get from everywhere is the same.

Naira needs to devaluaed to match the black-market - so does Birr. That everyone with brain knows.

GeneralDae:
Pushed by the scarcity of cash, Nigerians transferred a total of N4.1 trillion (over 9 Billion dollars) over mobile in March 2023. This pushed transactions over the platform to record a 215% increase of over N1.3 trillion recorded in the same period last year.  

This came as the highest-ever monthly transactions recorded on the mobile platform and nearly double the record of February this year, which stood at N2.5 trillion. 

According to the latest electronic transactions data released by the Nigeria Inter-Bank Settlement Systems (NIBSS), the volume of mobile transactions also jumped by 794% in the month. The volume of transactions in March this year stood at 380 million compared with the 42.5 million recorded in the same period last year.

rvp20182:
You cant rig the economic game for long before it shows. You saw in Magufuli when he tried cooking economic data -after scaring investors- forex outflowed followed - and Tanzania KES weaken - and you had to raid forex beaurue.

You're luckly you got Samia - who has assured the investor and some of that forex is coming back.

Countries in trouble in forex now - Nigeria, Ethiopia and Egypt. Egypt is dealing with problem head on - with devaluation.

Nigeria is scared to even start addressing their mess as their fake economy will be exposed. Ethiopia unlikely to address the problem too.

Lavoca:
Hello, Please can you help me with a problem on my data analysis.

Supercaddy:
This is what available * GradeA super clean direct USA* *Used intel Dual core* Brand name : *Acer Chromebook* HDD : *16gbssd* Ram : *2gbram* Screen size : 12inch *Please note, this is 12inch, not 14inch* *Memory card slots : take up to 512gb* pro. SD 4 USB Port HD Webcam yes Bluetooth yes Wireless network WiFi : yes Battery backup : *7hrsplus* Microsoft package : windows 10 installed Body look : as clean as new Condition : working perfectly, great battery
*Price is 39k*
*Free original charger Warranty* *Delivery is not FREE* and its pay on delivery

Zeddyzed:
You can only get cracked spss from a laptop that already has it. Not on any website. You can send your project coding to me for analysis. For a fee

Hafeexla:
wahala no one to buy ads

BXNX:
Not correct.. Sent you mail

BXNX:
I can help you... Drop your number

I can also help with all windows activator

rvp2018:
If only the Zoogeria could invest in basic infrastracture including security - breathtaking views

Calabar Port daily volume highest level in ten years – NPA

The daily operations at the Calabar Port are at their highest level in ten years according to the Nigerian Port Authority (NPA), citing that they have never experienced where over five vessels will be berthing and discharging back-to-back at the Calabar Port. This was disclosed in an interview by Mr. Festus Olumati, Port Manager, Nigerian Port Authority (NPA), Calabar Port, praising the rising volume of port operations carried out at the Calabar port. The NPA Chief also noted that the increasing volume will also lead to economic growth and prosperity for the area. Increased Operations The report stated that Mr. Festus Olumati, Port Manager, was engaged in oversight duty on Sunday, at the Calabar ports noting that over four vessels were discharging their various cargos and petroleum product, the report said: “One of the vessels, “MV Desert Unity”, berthed at the Port with 16,000 metric tons of wheat, while “MV Medi Bangkok” berthed with 18,251 metric tons of general cargo including cars, trucks, and project pipes. “The other two vessels berthed at the Port with premium motor spirit, while others were still at the Calabar Fairway Bouy and ready to berth for discharge. Activities The Port Manager added that even on weekends, tremendous activities are going on in the port, citing that the Calabar Port is very viable and working at optimal capacity, adding: “In line with the mandate given to us by our able Managing Director, Mr. Mohammed Bello-Koko, that the Eastern Port must work, I had to swing into action to make it a reality. “Also, in line with the mandate of the MD, I went out of the box to hunt for cargo to come into Calabar. The high traffic we see here today at the port is a result of the mandate given to us by our MD. “For the past 10 years, we have never had it like this where over five vessels will be berthing and discharging back-to-back at the Calabar Port. He also praised the MD of NPA for giving all the requirements to work and achieve results, adding that submissions to him for the Eastern Port to work have been approved, he noted that Port management was utilizing the concessional rate strategy to woo vessels to the Calabar Port. He also revealed that Calabar Port was viable, visible, and very reliable to use, adding that the Port has modern equipment to discharge cargo with marine police deployed to the Port to ensure maximum security for the Port. “For these vessels to come here, we had to ask for a concessional rate from the MD of NPA for those who bring in cargo and he approved. “As you can see, our workers are effective and efficient and everything is done perfectly. The commitment of the staff of NPA and the Eco Marine Terminal workers is quite commendable.”

Backstory

Recall Nairametrics reported last year that Nigeria’s Bureau of Public Enterprises (BPE) invited investors for the Submission of Response To the Request for Qualification (RFQ) for the Concession of the Calabar and Kano Free Trade Zones The Concessions are expected to last a minimum of 25 years, coming after the success of the Lekki Free Trade Zone, which now hosts the Dangote Group’s Refinery and Petrochemical Park, and the Lekki Deep Sea Port which is scheduled for completion this year. The BPE stated that the FG through the National Council on Privatisation and the BPE alongside the Ministry of Trade and Investment and the Nigeria Export Processing Zones Authority are inviting prospective investors to express interest by submitting responses to Request for Qualification to invest and operate and also manage the Calabar Free Trade Zone and the Kano Free Trade Zone as concessionaires. “The objectives of the concession are to re-develop and rehabilitate the two zones significantly and increase their efficiencies by operating and managing them through professional and efficient management practices as the world calls trade zones for a minimum of 25 years.”

Failure2019:
I'm a computer engineering undergraduate in my fourth year and almost a system architect used to work for a electric vehicle startup.


I read fiction and non fiction


I play retro games and board games


I hardly touch grass except for errands or collect movies


Never had a gf


Sexually abused as a child by my nanny then and raped as a child by then my landlord's niece

I'm 100% introverted


Used to be a part of Lichess


I like food and eat almost everytime mostly garri and other stuff

I'm lean and a sadomasochist ( I'm into bsdm btw:-))


I own a shitty Volvo


I identify as a Satanist but abide by certain christian values

DrAwo:
Listening to this podcast is a good place to start...

Start from the first episode and build your knowledge gradually. Also look for good books about investing and devour them.

I hope this helps...

https://podcasts.google.com/feed/aHR0cHM6Ly9hbmNob3IuZm0vcy80ZWI5NzRjNC9wb2RjYXN0L3Jzcw?ep=14

rvp20182:
You cannot achieve self-sufficiency when rice is twice expensive than international market.
That is total absolute madness.
That is manufacturing poverty.

You come back when nigeria has open all borders for all rice - and Nigeria farmers are still able to sell their local rice - because it's of high quality or competitive prices - value. Dont force Nigerians poor deeper into poverty - every inflation send the poor deeeeeeeeper into povery - as mos to their expenditure is FOOD.

In kenya for example - we produce very little rice - but it's of highest quality - Kenya middle class buy kenya's pishori rice for it's quality - then we flood cheap pakistani rice for the poor.

Kenya has not retained 750M of airlines; soon you wont be able to fly;
Everyone has forex issues - even oil giant like Nigeria - at least kenya we do not have forex control;
Nigeria - you're blocking airlines, MTNS and foreign companies to repatriate their dollars
That sign of impending doom.

Kenya
The forx are still flowing in and out.
We have 8B held in private accounts - 7B held by gov - so we have dollars.

We have market failure in forex market but we dont really care for short term - market will fix itself.

We are covered with fuel intil dec 31st (we signed 4.8B dollars credit supply). We are covered in food.

rvp20182:
You cannot achieve self-sufficiency when rice is twice expensive than international market.
That is total absolute madness.
That is manufacturing poverty.

You come back when nigeria has open all borders for all rice - and Nigeria farmers are still able to sell their local rice - because it's of high quality or competitive prices - value. Dont force Nigerians poor deeper into poverty - every inflation send the poor deeeeeeeeper into povery - as mos to their expenditure is FOOD.

In kenya for example - we produce very little rice - but it's of highest quality - Kenya middle class buy kenya's pishori rice for it's quality - then we flood cheap pakistani rice for the poor.

Kenya has not retained 750M of airlines; soon you wont be able to fly;
Everyone has forex issues - even oil giant like Nigeria - at least kenya we do not have forex control;
Nigeria - you're blocking airlines, MTNS and foreign companies to repatriate their dollars
That sign of impending doom.

Kenya
The forx are still flowing in and out.
We have 8B held in private accounts - 7B held by gov - so we have dollars.

We have market failure in forex market but we dont really care for short term - market will fix itself.

We are covered with fuel intil dec 31st (we signed a 4.8B dollars credit supply). We are covered in food.

Mkenya2019:
You must be Buhari economist. You've done a wonderful job to manufacture poverty at industrial scale.
Import substitution is not mutually exclusive to domestic production.
It doesn't mean you dont grow rice - it just mean you try to grow rice as efficiently and as productive as asian farmers.
It means being aware that every minute you force Nigerian (200M) to buy expensive rice to protect your farmers (10m) you're hurting the
majority consumers.
Yes if there are issues that hinders rice growing in Nigeria - you can protect the domestic industry.
BUT you want to get out of that situation as soon as possible - you must tell rice farmers - what is ailing you that makes you uncompetitive.
You must agree to 5yr plan - or 3yr - okay fix ABC - after 5yrs - we allow you to sell expensive local rice - after that - we open the market for international competition.
Local industries lobbies and stakeholders will of course be lobbying for perpetual extension - the economy underwrite their unproductive and inefficiency - consumers are hurt - poverty grows.

Import substitution therefore fails if leadership is weak and corrupt - it can only work with people like Kagame or Singapores or Koreans or maybe even Ethiopia.

Disciplined, serious, non-corrupt gov that can tell industries - we are protecting you for 3yrs - import duty at 80% - after that we lower to 50% - after that we lower to 30% - after that 10% - after that you zero rate.

By then NIgeria rice farmers will be as competitive as anywhere in the world - and they will export rice - and economy will grow.

And this model applies to all countries - Nigeria or Kenya.

Mkenya2019:
You build export - you don't worry about imports.
Reduce external debt - to bare minimum - so you're not forced to protect Naira or go bankrupt like Ghana.
Allow Naira/KES to collapse - it will fix imports. 1 dollar is equal to 23,000 veitname dong.
Exports will grow.

As principle import substitution has to be well thought and deliberate...and most important timed to expire.
It can never work in corrupt enviroment - where Dangote buys Aso rock - it requires very strong leadership that cares for the nation.
You cannot protect like Nigeria's almost 40 list of banned imports - perpetually - you're killing your economy.
Just see the poverty data.