Dar es Salaam. Tanzania’s food security initiative is reaching new heights, as the National Food Reserve Agency (NFRA) recorded a historic stock of 708,399 tonnes in October 2024, a level that surpasses anything seen since 2020.
The previous record, set in December 2023, was 248,282 tonnes.
Compared to the 73,171 tonnes in 2020, the reserves in October 2024 represent a major leap forward.
This also marks a significant increase over September 2024, which recorded 651,403 tonnes.
The growth is attributed to government efforts to boost the nation’s storage capacity and enhance food reserves.
According to the Bank of Tanzania (BoT), this growth in reserves was largely attributed to the purchase of 76,675 tonnes of maize and 8,561 tonnes of paddy, signaling a robust agricultural value chain.
In its Monthly Economic Review, the Central Bank highlighted that during the same period, the NFRA released 28,240 tonnes of maize to traders, ensuring market stability while maintaining strategic reserves at optimal levels.
As a result, food prices across the country have remained stable, contributing to favorable inflation trends.
Tanzania’s food inflation was 2.5 percent in October 2024, unchanged from the previous month and lower than the same period in 2023.
“This is due to declining prices of major food items such as maize, beans, and rice, which have benefited from improved food production, good weather, and adequate supplies of inputs like fertilizers, quality seeds, and pesticides,” the Central Bank noted.
Additionally, favorable dynamics in global markets, such as the stabilization of wheat prices, have helped ease the pressure on household budgets.
These efforts have positioned Tanzania as a regional leader in achieving both food security and price stability.
The broader inflation environment remains favorable, with the twelve-month headline inflation easing to 3 percent in October, down from 3.1 percent in September.
This is well below the medium-term target of five percent, highlighting the country’s economic resilience.
The moderation in fuel prices, with energy and fuel inflation dropping from 11.5 percent to 9.7 percent, played a crucial role in sustaining low inflation levels.
Tanzania’s strategic investments in agricultural infrastructure and food storage have better equipped the country to address food supply challenges, insulate the economy from global market disruptions, and maintain price stability for consumers.
