Local commodity price index collated by commodity prices analysis platform, ESOKO Ghana indicated that at the end of trading in the month of August, there was a general drop in commodity prices across the country.
Tomato price was the hardest hit, plunging by a significant 41.69 percent, from GHS468.2 to close at GHS 330.50 per crate, followed by Pona (yam) with a drop of 9.07 percent to close at GHS 815.50 per 100 tubers.
The price of gari also reduced by 6.02 percent to close the month at GHS 223.14 per bag, with fresh cassava also losing 4.12 percent to close at GHS 139.50 per bag. Meanwhile, a bag of maize lost 1.13 percent to close at GHS 162.43.
Some commodities however made gains. They include cowpea (beans), which gained 5.83 percent to close at GHS 469.57, with local rice also gaining some 4.99 percent increase to close at GHS 363.57. Soya also gained 3.36 percent to close at GHS 286.00 per bag, and millet gained 2.63 percent to close at GHS 256.00 per bag.
According to ESOKO, per the outlook for September 2020, all things being equal, it is expected that commodity prices will continue to fall.
“This is because it is still the harvest season for most of the commodities grown down south of the country. This is going to increase the volumes that are supplied to the market causing prices to fall,” it explained.
|||Wholesale Prices (GH¢)||Average|
|Commodity||Unit||Weight||Accra||Bawku||Dambai||Kumasi||Takoradi||Tamale||Techiman||This month||Last month||Avg. % Change|
|Cassava (Fresh Tubers)||Bag||91kg||178.00||N/A||77.00||118.00||174.00||150.00||140.00||139.50||145.50||-4.12|
|Maize (white, grain)||Bag||100kg||180.00||110.00||200.00||179.00||198.00||138.00||132.00||162.43||164.29||-1.13|
|Yam (pona-medium)||100 tubers||250kg||1320.00||N/A||500.00||900.00||790.00||802.00||581.00||815.50||896.80||-9.07|
The average price for a bag of maize lost 1.13 percent to close the month at GHS 162.43. The highest price of GHS200.00 was recorded at Dambai. The lowest price of GHS 110.00 was recorded at Bawku. It is expected that the price of the commodity will continue to fall further as more is supplied to the market.
The average price for a bag of local rice gained 4.99 percent to close the month at GHS 363.57. The highest price GHS 460.00 was recorded at Dambai with the lowest price of GHS 300 recorded at Takoradi. Prices will begin to fall when major producing areas harvest and supply the market.
A crate of tomato lost 41.69 percent to close the month at GHS 330.50. The highest price GHS 460.00 was recorded at Accra and the lowest price of GHS 120.00 recorded at Kumasi. The price of the commodity continues to fluctuate on the market.