Sugar prices dip sharply on ended Comesa cushion

Key Takeaways

• Retail sugar prices in Kenya experienced their largest month-on-month drop in almost two years during February, falling 4.37%.
• This price decrease is attributed to the government's decision to end the Comesa sugar import safeguard regime, allowing cheaper imports.
• The removal of the 24-year-old protection measure opens the Kenyan market to competition from lower-cost sugar within the Comesa bloc.
• The average price of sugar in February reached its lowest point in 11 months, indicating a sustained downward trend since late last year.