Kenyan government announces $6 bln maize subsidy to lower the cost of flour

Описание: In an unprecedented move the Kenyan government has announced huge maize subsidies. Treasury has released about $60 million to counter the rising cost of maize a staple food in the country. The subsidy will see the cost of flour drop to 90 US cents for a two-kilogramme packet. The government will offer millers cash to enable them process flour at 23 dollars for a 90-kilogramme bag, from the current 40 dollars. This means the taxpayers will reimburse the millers about 17 dollars for every imported bag of maize. The sharp rise in flour prices has contributed to rising political pressure as the country head for elections. Kenya's strategic grain reserves will this week fall to 90kg 50,000 bags, enough to feed the country for half a day.

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