Esoko Ghana has advanced that prices of the commodity on the market will be high as the Christmas holidays fast approaches.
Speaking in an interview with ghanatalksbusiness.com, Content Manager for Esoko, Francis Danso-Adjei stated that “Over the years anytime we get to Christmas you realized that there is some upward movement in a lot of the prices of commodity we collect data on, most often its due to the festive activities and so we expect that this year wouldn’t be different.
If we going to have some prices dropping it will be dropping maybe as a result of a lot of supply that will be coming from producers because we know that up North, they have finished harvesting some of the commodities and they’ve begun bringing it onto the market.”
When asked if its deliberate on the part of sellers to inflate prices of commodities on the market during Christmas festivities, he professed that “I wouldn’t say that they inflate prices deliberately, they are rational human beings and so for any rational person what you do is that, you try to regulate the supply, and so if they take the commodities from the producers they intend to hold it in stock and then release as and when the market demands and so that how come they try to regulate the supply, once they know that if they put too much on the market prices will drop, they rather hold on to the stock when market demand is high”
He added that Sellers of commodities are also in the known that the Christmas holiday is short-leaved and so as much as possible they would also want to break even during those festive holidays because at some point within the year they also lose money.
However, Esoko Ghana advised that as Christmas holidays fast approaches the best way for consumers to save money is to consider buying commodities that are not all that perishable in bulk as they are cheap and buy the perishable ones as and when the need arises.
According to Esoko, Maize prices went up in November, this is a bit worrying looking at the fact that some places are still harvesting.
Esoko is of the view that, if measures are not put in place, prices will continue to increase in the month of December.