Last Updated on: 7th September 2022, 08:01 am
Soybeans contributes about $45 million to Uganda’s economy, according to Food and Agriculture Organisation [FAO].
By Regina Lalam Olal
Acholi – Sept. 6, 2022: A section of farmers in Agago and Pader districts are counting less money as a result of the shock drop in the market price of soybeans.
Hellen Alanyo is a farmer from Got-Olal in Pader district. She tells me in an exclusive interview that they are now selling 1kg of soybeans at shs1, 400.
She adds that before, soybeans were selling between shs2500 to 2600 per kilogram.
Alanyo further explains that the difference between the amounts of money spent during the production process and from sales is “not worth any profit”.
Evelyn Adong, a produce dealer who buys soybeans directly from the farmers and sells to wholesalers, says they are also facing the same challenge in the price drop. “And sometimes we buy them on credits,” she adds.
Adong says low sales [prices] have affected their customer care relationship with the local farmers who think they are over bargaining for over profits.
Speaking to the Agago district commercial officer Justine Okeny, he attributed a drop in the market price to the low demands by consumers and wholesalers, adding there is a drop in demands in the international market.
Okeny further explains that the price of soybeans is “liberal” in an economy where people are free to tag the prices of commodities the way they want.
He advises farmers to always keep their produce in the stores as they wait for the prices to rise within the appropriate time.
Benard Otto, a resident in Pader sub-county said they will continue trading because of school fees and their children have to go to school.
He urged the ministry of trade and legislators to make some adjustments in the law that favour local farmers in the country since agriculture is considered the backbone of Uganda.
Soybean yields in Uganda have more than tripled since the end of World War II according to the United Nations Food and Agriculture Organization. Today the crop contributes about $45 million to the nation’s economy.