Esoko’s Commodity index suggests mixed fortunes for food prices as at the end of October 2020.
In the days ending October, ESOKO’s countrywide commodity price index report revealed certain commodities experienced some losses while some others made marginal gains. Below is a discussion on expected staple food prices in the month of November, 2020
Expected Food prices in November 2020
Price Gains
On average, there was a significant rise in prices for some commodities. Millet made the highest gain of 18.04% trading at GH¢311.29 per bag with the highest price of GH¢370.00 recorded in Dambai and the lowest price of GH¢230.00 recorded in Bawku.
A bag of gari traded at GH¢246.79 per bag, an increase of 6.57% over last month’s. The highest price of GH¢350.00 was recorded in Takoradi and the lowest price of GH¢180.00 recorded in Tamale.
Soya beans rose to 6.40%, ending the month at GH¢313.43 per 109kg bag. The highest price of GH¢381.00 was recorded at Tamale and the lowest price of GH¢230.00 was recorded in Bawku and Kumasi.
Pona, our local yam increased by 6.01% trading at GH¢787.50 per 100 tubers. The highest price was recorded at GH¢1,050.00 in Accra and the lowest price of GH¢565.00 was recorded in Dambai.
The average price of local rice made a gain of 3.27% trading at GH¢387.43 per 100kg bag. The highest price of GH¢500 was recorded in Dambai and the lowest price of GH¢290.00 was recorded at Takoradi.
Price of maize increased slightly by 0.2 % trading at GH¢154.17 per 100kg bag. The highest price of GH¢200.00 recorded in Dambai and the lowest price of GH¢118.20 recorded in Bawku.
ALSO READ: Food prices to remain relatively stable in October -Esoko
Food prices in November 2020 – Price Falls
Prices of commodities such as tomatoes, groundnut, and cowpeas, witnessed a decline in their prices. Tomatoes, for instance, fell by 15.63% trading at GH¢293.75 per 72kg crate. The highest price of GH¢380.00 was recorded in Takoradi and the lowest price of GH¢150.00 was recorded in Kumasi.
Groundnut (shelled) also fell by 3.14% to close at GH¢527.34 per 82kg per bag. The highest price of GH¢600.00 was recorded in Tamale with the lowest price of GH¢417.00 recorded in Techiman.
Cowpea declined by 1.87% to close at GH¢468.20 per bag with the highest price of GH¢549.00 recorded in Tamale and the lowest price of GH¢352.00 recorded in Techiman.
Average price of Cassava reduced by one percentage point, ending the month of October at GH¢140. The highest price was recorded at GH¢187.50 recorded in Takoradi. Imported rice reduced by 2.91% to close at GH¢400.75 per 50kg bag with the highest price recorded at GH¢480.00 in Kumasi.
Wheat also reduced by 0.07% to close at GH¢285.50 with the highest price of GH¢400.00 recorded in Accra and the lowest price of GH¢210.00 recorded in Kumasi.
Data source: Esoko, Ghana
