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Strategies & Market Trends : 2026 TeoTwawKi ... 2032 Darkest Interregnum -- Ignore unavailable to you. Want to Upgrade?

To: TobagoJack who wrote (81865)	10/21/2011 12:31:36 PM
From: elmatador	Respond to of 218611

You looked to the right angle. Any activity that becomes more profitable attracts more investment. Food is no exception. Governments were taxing imported food and now must give up those taxes since imported food is becoming unaffordable. Kenya to Cut Food Duties, Boost Output to Fight Inflation Oct. 20 (Bloomberg) -- Kenya, East Africa’s biggest economy, plans to slash duties on imported staple food and to subsidize fertilizers for farmers in a bid to fight inflation, President Mwai Kibaki said. “I wish to assure Kenyans that the government is taking both long and short-term interventions to make life affordable, especially to the low income group in our country,” Kibaki said today in a speech marking Heroes Day. Inflation accelerated to 17.3 percent last month, more than triple the government’s 5 percent target. Kenya’s central bank on Oct. 5 raised its benchmark interest rate by 4 percentage points to a record 11 percent to bolster the shilling, one of the world’s worst-performing currency this year. The government will give farmers 700 million shillings ($7 million) to grow drought-resistant crops such as sorghum, millet and cassava and will invest 4.8 billion shillings to ensure availability of fertilizer, Kibaki said. “We will also be establishing a permanent fertilizer and seed fund to address concerns of farmers in the long term,” he said. --Editors: Karl Maier, Claudia Maedler To contact the reporter on this story: Eric Ombok in Nairobi at eombok@bloomberg.net To contact the editor responsible for this story: Shaji Mathew at shajimathew@bloomberg.net