Around the world, food prices are persistently, painfully high. Puzzlingly, too. On global markets, the prices of grains, vegetable oil, dairy and other agricultural commodities have fallen steadily from record highs.
Food inflation, Glauber says, “will come down, but it’s going to come down slowly, largely because these other factors are still running pretty high."
Glauber, now a senior research fellow at the International Food Policy Research Institute, isn't convinced that consolidation in agribusiness is to blame forSure, he says, big agribusinesses can rake in profits when prices rise. But things usually even out over time, and their profits diminish in lean times.
Corn flour, a staple in Kenyan households that is used to make corn meal known as ugali, has doubled in price over the last year. After the 2022 elections,meant to cushion consumers from higher prices. Nonetheless, he has promised to bring down corn flour prices. “We had to reduce the size of our chapatis because even after we increased the price, we were suffering because cooking oil prices have also remained high,” Kioko says.
“Our chef closely follows prices on a daily basis, so the procurement of kitchen ingredients is tightly controlled,” said the restaurant’s general manager, Andras Kelemen. The café even dropped burgers and French fries from the menu.
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