A recent market survey has revealed that the average price of a 50kg bag of maize has decreased to approximately $70, down from $87 in mid-February. The price decline is attributed to an influx of newly harvested maize, which is now selling for as low as $39 to $47 per 50kg bag in various markets across the country.

The significant drop in maize prices is expected to improve food affordability for many Malawian households, which have been struggling with high living costs. Don Consultancy Group Chief Economist Chifipa Mhango stated, "The availability of freshly harvested maize has significantly increased supply, leading to a natural reduction in prices. This is providing relief to consumers and helping stabilise food costs."

Maize is a staple food for Malawians, and fluctuations in its price have a direct impact on household budgets and inflation. The latest price adjustment provides relief to consumers and may contribute to stabilising the broader economy.

Mhango suggests that if the trend continues, it could lead to reduced pressure on food prices and help improve overall food security in the country. However, he also cautions that market dynamics, including transportation costs and export demand, could influence future price movements.

--ChannelAfrica--