10-Kenya's Rice Imports Surge By Nearly 120% In The First Half Of 2023

1. Kenya's Rice Imports Surge By Nearly 120% In The First Half Of 2023 Kenya's Rice Imports Surge By Nearly 120% In The First Half Of 2023 According to data from Kenya's National Bureau of Statistics (KNBS), the volume of rice imported during the first half of 2023 surpassed that of the entire year of 2022, setting a new record for imports. Rice is the third most popular cereal in Kenya, after corn and wheat. It is, however, also the least produced grass, which keeps reliance on the global market to meet consumption needs. Kenya’s Rice Imports Kenya’s Rice Imports According to KNBS, traders ordered 702,249 metric tonnes of rice, an increase of 118.31% over the 321,670 tonnes ordered during the same time last year. According to data from the Kenya National Bureau of Statistics (KNBS), the volumes ordered from foreign nations during the past six months were 24,138 tonnes higher than the 678,110 tonnes ordered during the entire year 2022. This happened at a time when the Ruto administration permitted traders to import milled rice and maize tax-free as part of the measures taken to prevent the food crisis after the previous year's unsuccessful crop season. Expenses For Imports By Kenya Expenses For Imports By Kenya The increase in rice orders caused traders' spending to soar by 150.12% to Sh39.71 billion ($267M) in the first half of the year. Nearly Sh27 billion (US$181), or about two-thirds of that amount, was spent between April and June when 464,755.50 tonnes were primarily ordered from Pakistan and India after Tanzania restricted grain exports.

2. An analysis of the data reveals that during the review period, a tonne of imported rice was valued at an average of Sh56,549.03 (US$380), an increase of 14.57 percent over the first half of 2022. The Increase In Rice Imports The Increase In Rice Imports The Ministry of Agriculture opened a duty-free window that allowed traders to import 600,0000 and 900,0000 tonnes of maize between February and August, which significantly contributed to the increased stocks. The U.S. Department of Agriculture (USDA) updated its prediction for Kenya's rice imports in June, increasing it by 42% to account for higher-than-anticipated purchases sparked by the duty-free policy. The USDA projects that 850,000 metric tons of rice will be imported, up from a previous prediction of 600,000 tons made in May. The majority of these imports are anticipated to be rice from India. Demand has increased, and this upward revision was attributed to consumption levels exceeding production levels and the government's approval to import 600,000 tonnes of rice duty-free to protect consumers from the high cost of the staples. While there is a demand for about one million tonnes of milled rice, the nation only produces between 100,000 and 130,000 tonnes of it. If you are a rice importer wishing to buy rice in bulk or a rice exporter willing to export bulk rice, then Tradologie.com is the right platform for you. Tradologie.com is a Software as a Service platform that facilitates bulk agro-trade across the globe. Through tradologie.com’s interface, buyers can avail the best qualities of agro-commodities at negotiable rates. The transaction oriented platform has 600,000+ verified buyers and about 70,000+ registered sellers of agro-commodities from over 150 countries. To register as a buyer, click here. To register as a seller, click here. To stay updated with the latest happenings in the agro-trade industry, follow Tradologie.com across all social media channels.