“No doubt that prices of different commodities will remain high for some time”, says Samia

“No doubt that prices of different commodities will remain high for some time”,  says Samia

President Samia Suluhu today received the 2020/2021 CAG report at Chamwino State House in Dodoma.

After Dr Charles Kichere, the CAG presented his report before the president, President Samia took the podium and made several comments on the report. 

President Samia touched on the prices crisis and admitted that there has been constant hiking of prices of different commodities, including food. President Samia said the world halted production during COVID-19, thus rendering a vast scarcity of products, and hence countries consumed most of their reserves, which caused an increase in prices.

As the world starts to heal from the miseries of COVID-19, it is hit by the Russia – Ukraine war festering the situation, making prices hike even higher. 

“Unfortunately, prices will keep rising, MPs and other leaders, you have you tell people the truth about what is going on and why things happen the way they are,” – President Samia Suluhu.

Considering that the country [Tanzania] had consumed much of its food reserves at the inception of COVID-19, in the meantime, prices will stick high as the country has just resumed production, said President Samia. 

“Most of what we consume are imports. For instance, the import duty for a single container (40ft) at the port of Dar es Salaam was $1500, but now it is $8000. For this, let us expect prices to rise as the businessmen will compensate their import costs from products prices.” – President Samia Suluhu

The dramatic increase in commodities prices that the world currently endures is due to the acute shortage of oil that has been disrupted by an ongoing war between Russia and Ukraine. President Samia hinted that prices and oil shortages will likely go higher if the Russia-Ukraine crisis persists.