COUNTRYWIDE ANALYSIS
Commodities traded mix at the end of August. A bag of gari gained 7.78% making it the highest for the month. It close at GHS 188.00 per bag. Groundnut and millet both made gains between 2.5% – 3% to close at GHS 439.00 and GHS 276.43 per bag respectively. Imported rice made a gain of 1.79% to close at GHS 341.00 with cassava fresh tuber making a slight gain of 0.98% to close at GHS 68.67.
The remaining commodities dipped in prices. Pona lost 25.91% to close at GHS 446.50 with tomatoes also closing at GHS 307.50 representing a drop of 5.09%. Maize price which has been on the rise for the past 3 months recorded a drop of 4.78% to close at GHS 173.43 per bag. The price of a bag of local rice dropped by 3.85% to close at GHS 364.14 with wheat dropping by 2.98% to close at GHS 244.14. Soya and cowpea both lost less than a percentage point to close the month.
Out Look for September, all things being equal, it is expected that some commodities would continue on the downward trend in the coming month. The price of tomatoes continue to fluctuate on the market. For most weeks of August prices were very low picking up towards the last weeks of the month. It is anticipated that this trend of price fluctuation would continue in the coming month.
CROP ANALYSIS
Maize
The average price for a bag of maize lost 4.78% to close the month at GHS 173.43, with the highest price GHS 201.00 recorded at Takoradi and the lowest price of GHS 146.00 at Techiman.
Rice Local
The average price for a bag of local rice dropped by 3.85% to close the month at GHS 364.14, with the highest price GHS 398.00 recorded at Accra and the lowest price of GHS 328.00 recorded at Tamale.
Tomato
The average price for a crate of tomato dropped 5.09% to close the month at GHS 307.50, with the highest price GHS 334.00 recorded at Accra and the lowest price of GHS 261.00 recorded at Tamale.
Data Source: Essoko
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