Maize export earnings were up by 145% in the month of August, bringing in $13m (Shs 48bn) compared to just $5.3m (Shs 20bn) registered in July 2019, according to a report from the Ministry of Finance.
A kilogram of sasame seeds is at Shs 6000
Maize and sesame (sim sim) farmers in
Uganda are laughing to the bank after the prices of their crops rebounded
pushing the country’s export earnings up in August.
Maize export earnings were up by 145%
in the month of August, bringing in $13m (Shs 48bn) compared to just $5.3m (Shs
20bn) registered in July 2019, according to the Ministry of Finance September performance of the economy report.
The raise is due to increase in the prices
of maize, a reprieve to many farmers who a year ago were selling their produce
A year ago, a kilogram of maize sold at as low as Shs 250 in some places. Farmers felt this was too low and some dropped the crop for others. According to the Famine Early Warning Systems Network (FEWS NET), a kilogram of maize now costs Shillings 1,200 up from Shillings 600 it cost in August 2018.
Keigare Muhwezi, a maize trader in Kampala said most farmers were demoralized last year and they dropped the crop from their list of priorities. The scarcity of the corn has skyrocketed the prices.
Also, the ministry of finance report shows that other than maize, there was
observed increment in the prices of sim sim, also pushing up its export earnings.
Sim Sim’s export earnings grew from
$950,000 (Shs 3.5bn) in July to $3.5m (Shs 13bn) in August 2019. A kilogram of
sim sim is currently at Shs 6000, up from Shs 3500 a year ago.
Sim Sim is on demand around the world.
Last year, a Dubai based firm, Robust Trade
Links, started mobilizing farmers in Acholi and Lango sub-region to boost sim sim
During the month, coffee and fish
export earnings also grew but this was due to increases in their respective
According to the Ministry of Finance, these
developments saw export earnings grow by 1% from $318.43 million registered in
July 2019 to $ 321.67 million in August 2019.
And compared to the same month last
year, export receipts increased by 9.4% in August 2019.