Malawi’s maize prices plunge 19% offering economic relief to citizens
The price drop has been fueled by the influx of freshly harvested maize, with new stock entering the market at US$ 28.82 to US$ 34.58 per 50kg bag.
MALAWI – Maize prices in Malawi have dropped by 19%, providing much-needed relief to consumers and helping to alleviate inflationary pressures.
A recent survey reveals that the average price of a 50-kilogram (kg) bag of maize in urban areas has decreased to MWK 88,900 (US$ 51.24), down from MWK 110,000 (US$ 63.40) in mid-February.
The survey comes after the recent Food and Agriculture Organisation (FAO)’s concern over the dramatic maize price hikes in Malawi, signaling a crisis for consumers already grappling with food insecurity.
According to FAO’s Food Price Monitoring and Analysis (FPMA) Bulletin for January 2025, maize prices increased by 29% in January, reaching a record high of MK1,243 (US$ 0.72) per kilogram, marking a 38% rise compared to the same period last year.
The FAO attributed these price hikes to domestic supply pressures, stemming from a reduced national maize harvest in 2024 and a weakened local currency, which has increased the cost of importing key agricultural inputs.
With the current report, this price reduction offers a significant respite to household budgets.
Across various regions, prices vary, with Zomba recording the highest maize prices at MWK 96,000 (US$ 55.33) per 50kg bag, followed by Lilongwe, where prices range from MWK 90,000 (US$ 51.88) to MWK 92,000 (US$ 53.03).
In Blantyre, Mangochi, and Mzuzu, maize prices peak at MWK 90,000 (US$ 51.88), but more affordable options ranging from MWK 75,000 (US$ 43.23) to MWK 80,000 (US$ 46.11) are available in Mzuzu and Mangochi.
According to industry analysts, the price drop has been fueled by the influx of freshly harvested maize, with new stock entering the market at MWK 50,000 (US$ 28.82) to MWK 60,000 (US$ 34.58) per 50kg bag.
Economist Marvin Banda predicts that food inflation will continue to decrease over the next four months, driven by the increased supply from the current harvest. However, he warns that restrictions on exports and imports of certain agricultural goods could disrupt supply chains, affecting prices later in the year.
Despite this welcome price drop, inflation remains a concern in Malawi. In January 2025, the annual inflation rate surged to 30.7%, up from 28.5% in December 2024. This rise is largely attributed to foreign exchange shortages that have disrupted imports of essential goods, including fuel and fertilizers, fueling a thriving black market for foreign currency.
John Kapito, Executive Director of the Consumers Association of Malawi (Cama), praised the maize price reduction for helping to reduce inflation and improve affordability.
However, he cautioned farmers against selling all their maize at current prices, warning that lower harvest volumes could lead to price hikes in the coming months.
Kapito also urged the government to ensure that food agencies like Admarc and the National Food Reserve Agency (NFRA) are adequately resourced to procure maize early and stock up for the lean period.
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