Demand for cooking ingredients and meals has remained centred around edible oils and sauces, dips and condiments in 2023. While the pandemic has come to an end, high inflation is putting pressure on incomes thus limiting stronger growth, with consumers focusing on their primary needs.
In 2023, there is an ongoing issue of general inflation in Uganda, mainly driven by the increase in fuel prices that occurred in February 2022. Towards the end of 2022, there was a minor reduction of 10% in fuel prices, however, at the time of writing, many consumers continue to struggle due to the surging prices of everything from fuel to basic commodities.
Urbanisation and strong urban retailing development, particularly the opening of new supermarkets and hypermarkets, are helping to improve access to packaged food for many urban consumers. This is also helping to expand awareness for many products and brands, especially in areas such as meals and soups and sweet spreads.
Urbanisation has led to the emergence of new towns, driven by population growth and improved infrastructure. This development has opened up avenues for modernised retailing, resulting in greater accessibility to a wide range of products.
The distribution of packaged food in Uganda remains considerably stronger in urban areas, with many products having limited rural distribution. For example, 90% of olive oil in Uganda is sold in urban areas, with only a fraction of sales coming in rural areas.
Over the forecast period, the ongoing inflation will present a substantial threat to the country's economy, given that a substantial portion of domestic companies relies heavily on imported raw materials, such as wheat flour, cooking oil, and fuel. All these factors exert influence on inflation within the CIM industry.
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Cooking Ingredients and Meals
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