Government sells cheap maize to depress high prices

The government of Togo is selling 2,000 tonnes of maize direct to the public at fixed low prices to curb a steep rise in the West African country's staple food following the late arrival of the annual rainy season. Maize prices are a sensitive issue in this poor country of nearly five million people, where the minimum monthly wage is only $US30. It normally costs about $1 to feed a family of five with maize meal for two days, but over the past month maize prices have shot up by around 25 percent in markets across the country, putting pressure on low income groups. "If the price of a bowl of maize rises, I have to reduce the amount I feed the family, otherwise hunger will kill us in the long run," one lady selling onions in a market in the capital Lome told IRIN. The release of cheap fixed price maize by the government was widely welcomed, but there were fears that speculators would stop ordinary people from benefitting from the move. "I am going to take advantage of this price offered to us by the government to stock up with about 20 bowls worth, which is all I can afford," said Awa, a seamstress who was out shopping. "What I fear is that those who are richest will corner all the sacks and that we will suffer," she added. The cheap maize released by the government went on sale on Wednesday at a fixed price of 235 CFA rancs (44 US cents) per bowl of 2.5 kg. That compares to recent market prices of up to 315 francs CFA (59 cents). However traders told IRIN that providing this year's rains are good, the maize price should come down to 200 francs (37 cents) per bowl when the new season's crop comes on sale at the end of July. The rainy season in Togo normally starts in April, but this year the first downpours arrived several weeks late in early May.