All things being equal, prices of certain commodities on the market is expected to drop especially as we edge towards the Christmas season.
It’s obvious some consumers will begin their Christmas shopping which may drive up prices of some commodities.
According to Esoko, information picked up from the Northern parts of Ghana indicate that due to rain activities, some roads are unmotorable which will affect the transportation of commodities from the farm to the market – this may also affect prices negatively.
COUNTRYWIDE ANALYSIS
Some commodities continued their downward trend in October too. The price of Cassava dipped by 10.34% to close at GHS 60.67 per bag with Maize dropping 6.12% to close at GHS 138.00. Local rice closed at GHS 367.14 per bag, representing a 4.32% drop. Cowpea white and Gari also dropped in price with the former losing 3.34% to close at GHS 415.71 and Gari closing at GHS 178.00 losing 3.26%. Groundnut dropped less than a percentage point to close at GHS 438.14.
There were also some gains in the month. There was a hike of 34.25% in the price of Tomatoes to close at GHS 539.00 with Yam (Pona) also gaining 9.64% to close at GHS 436.00. Millet gained 5.30% to close at GHS 263.86 with Wheat also gaining 3.56% to close at GHS 237.83. Imported rice made a gain of 1.09% to close at GHS 351.80 with Soya gaining less than 1% to close at GHS 283.29.
CROP ANALYSIS
Maize
The average price of a bag of Maize lost 6.12% to close the month at GHS 138.00. Kumasi recorded the highest price of GHS 160.00 with the lowest price of GHS 114.00 recorded at Bawku.
Rice Local
The average price of a bag of local rice lost 4.32% to close the month at GHS 367.14. The highest price GHS 398.00 was recorded at Accra, with the lowest price of GHS 317.00 recorded at Takoradi.
Tomato
The average price for a crate of tomato gained 34.25% to close the month at GHS 539.00. The highest price GHS 802.00 was recorded at Accra, while the lowest price of GHS 312.00 was recorded at Tamale.
Data Source: esoko
