Zambia expects prices of foodstuffs to rise in market

LUSAKA, Aug. 6 (Chinese media) -- Consumers in Zambia should prepare for an increase in the cost of protein foods and grain following the rise of fuel and shortage of cereals on the market and the prices of foodstuffs expected to increase include chicken, eggs, rice, soya beans, bread and mealie meal, Hybrid Poultry Farm Limited has said.

Managing director of the company Richard Keeley said in an interview in Lusaka that a gradual increase in their products like chicken and eggs should be expected by consumers due to increase in fuel and shortage of feedstock on the market, according to Zambia Daily Mail on Wednesday.

The price of cereal like maize has increased from 200 U.S. dollars per ton in last year to 400 dollars per ton in the country while wheat has also increased from 325 to 600 dollars per ton.

Keeley said price of maize and soya beans is the major input in the poultry farm business whose price has doubled as cost of grain on the global market increases.

He said the appreciation of the Kwacha against the U.S. dollar has helped in offsetting some of the losses the company was having on soya beans, maize and fuel.

He said high cost of beef on the market has also helped in boosting growth in the chicken sector.

He said for the past three years, chicken has been the cheapest protein available which has also added to boosting demand for the product.

"Other factor that has boosted the poultry industry is the increase in disposable by people triggered by the growth in the mining sector and the country's debt cancellation."

"When there is more money around, people tend to spend more on food especially proteins," he said.