Food prices have generally soared and we should expect to spend more in March than we have done in previous months including Christmas. Commodity price data from Esoko indicates increase in prices of most staples over a one-month period. We should therefore expect to pay more.
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Data Source: Esoko
COUNTRYWIDE ANALYSIS
Most commodity prices surged this month. The highest gain of 7.63% was made by maize. It closed the month at GHS 141.14 per bag with Pona, also making a gain of 5.43% to close at GHS 466.33. Groundnut gained 4.3% to close at GHS 380.86 with Soya making a gain of 3.44% to close at GHS 232.14. Cowpea white and gari made gains of 3.18% and 3.07% to close the month at GHS 362.00 and 201.14 respectively. Local rice gained 2.78% to close at GHS 317.43 with Millet also gaining 1.61% to close at GHS 235.00. Imported rice made a gain of less than a percentage point.
Some commodities however dropped in prices. Tomatoes lost 7.69% to close at GHS 318.00 with wheat also losing 5.55% to close at GHS 224.00 per bag. Cassava also dropped by 4.12% to close the month at GHS 73.67. These price trends are a general reflections in the times in which we are in, where no major crops are been harvested.
CROP ANALYSIS
Maize
A bag of maize gained 7.63 percent to close at GHS 141.14. The highest price of GHS 188.00 was recorded at Takoradi and with the lowest price of GHS 110.00 recorded at Tamale.
Rice Local
The average price for a bag of local rice gained 2.78 percent to close at GHS 317.43. The highest price of GHS 450 per bag was recorded at Accra with the lowest price of GHS 260.00 recorded at Takoradi.
Tomato
The average price of a crate of tomatoes gained 7.69 percent to close the month at GHS 318.00. The highest price of GHS 447.00 was recorded at Takoradi with Dambai recording the lowest price of GHS 210.00.
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