President Ruto lowers fertilizer prices by half
President William Ruto has reduced the price of fertilizer by almost half.
Ruto made the announcement at Kasarani stadium on Tuesday in his first speech after being sworn in as Head of State.
Hence, the price of a 50kg fertilizer will now retail at Sh3500 instead of Sh6500.
This, the new President said, will help increase the cost of production.
The new prices are effective next week.
“Our farmers require such incentives so as to increase on production of food,” observed Ruto.
Ruto further added that the new prices were part of a new policy framework aimed at achieving durable growth while maintaining stability and empowerment of people at the bottom of the pyramid.
The new prices come at a time the cost of food production has increased forcing the country to produce far less than the demand.
This led to the importation of maize from Uganda, Tanzania, and Zambia.
Besides Agriculture, Ruto says his administration will strive to promote healthcare and manufacturing.
The increase in fertilizer prices during the Uhuru administration was attributed to high taxes and disputes and war between Russia and Ukraine in Europe.