AgriGuru News - Tanzania’s Government Takes Steps To Arrest Rising Sugar Prices
06 MAY 2024 | SOURCE Chinimandi.com
Dar es Salaam: After sugar prices increased earlier this year, the government is taking steps to stop it from happening again. Agriculture Minister Hussein Bashe told Parliament that one of these steps is giving the National Food Reserve Agency (NFRA) the power to buy and store sugar, reported The Citizen.
Bashe asked Parliament to approve a budget of Sh1.249 trillion for the ministry in 2024/25. He said changes to the NFRA law would be made through the Finance Act, 2024.
Sugar shortages happen often in Tanzania, and the latest one started in January 2024. During this time, sugar was being sold at high prices, causing problems for people and the economy. To fix this, the government did a few things. They set prices for sugar and allowed the NFRA to import more sugar.
The government also wants to change the rules for the NFRA and make sugar an important part of food security. They want to make it easier for the NFRA to buy and store sugar to stop shortages.
Bashe said this would stop some people from hoarding sugar, but it wouldn’t hurt Tanzanians. The government still wants to help local businesses and farmers.
