Food Prices in Ghana have shot up in the month of March, latest Commodity Index report from Esoko indicates.
According to Esoko, at the end of trading activities in the month of March, prices of many commodities increased.
Food prices- April 2020
There was a hike in the price of tomato from GH₵619.33 the previous month to GH₵665.17 per crate in March, representing an increase of 7.40%.
The report further indicates that Groundnut gained 1.44% to close at GH₵533.71 in March, that is from GH₵526.14 per bag in February with soya gaining 4.16% to close at GH₵261.00 from GH₵250.57 last month.
In addition to this, local rice also made a gain of 1.49% to close at GH₵329.86 from GH₵325.00 in February with wheat gaining 1% to close at GHS 283.60 per bag.
Maize saw an increase of 3.74% to close the month at GHS 138.86 per bag in March from GH₵133.86 within the same period in February with Gari also gaining 6.19% to close at GH₵200.86 per bag from GH₵189.14.
Again, Pona, a variety of yam, made a gain of 7.55% to close the month at GH₵667.17 with cassava also trading at GH₵96.50 per bag representing 6.34% increase from GH₵89.50.
Furthermore, Cowpea white closed trading at GHS 371.57 per bag representing an increase of 4.21%.
However, Millet and imported rice both gained less than a percentage point.
“Outlook for April 2020, with the COVID-19 pandemic and its uncertainties, it is expected that prices will show some upward movement if the lockdown continues
“However, if the lockdown should end soon, prices will drop because consumers would still have stock available for use and this will force traders to reduce prices”, the Esoko report said.
Below is the crop analysis graph.
The average price for a bag of maize gained 3.74% to close the month at GHS 138.86. The highest price of GHS 203.00 was recorded at Takoradi. The lowest price of GHS 95.00 was recorded at Bawku.
The average price for a bag of local rice gained 1.49% to close the month at GHS 329.86. The highest price, GHS 400, was recorded at Accra and Dambai with the lowest price of GHS 252.00 recorded at Tamale.
A crate of tomato gained 7.40% to close the month at GHS 665.17. The highest price, GHS 840, was recorded at Dambai and the lowest price, GHS 450.00, recorded at Kumasi.