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Food Prices to Rise

by 5m Editor
6 August 2008, at 9:41a.m.

ZAMBIA - Consumers must expect to pay more for chicken, eggs and other grain-based foods following fuel price rises and cereal shortages.

The warning was given by Hybrid Poultry Farm Limited managing director, Richard Keeley, in an interview in Lusaka with Zambia Daily Mail.

The prices of chicken, eggs, rice, soybeans, bread and mealie meal will be affected, he said.

Maize has gone up from US$200 per ton last year to $400 dollars, while wheat has increased from $325 to $600 per ton over the same period, continues the report.

Mr Keeley explained that maize and soya are the major inputs in poultry farming, and their prices have doubled on the global market. The appreciation of the kwacha against the US dollar has helped to offset some of the increases in soybean, maize and fuel, and the high price of beef has benefitted the chicken sector.

"Another 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," Mr Keeley told the newspaper.

5m Editor