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in Securities/Markets

September Greeted with Hike in Commodity Prices in Major Markets in Accra

Maynard Championby Maynard Champion
September 7, 2021
Reading Time: 3 mins read
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Foodstuffs on display

Foodstuffs on display

Prices of foodstuffs in major markets in Accra and its environs swelled up in the first week of September. Picking up from mix activities in August where commodity prices fluctuated.

A survey conducted in major markets in Accra revealed that while the prices of some commodities recorded a reduction in September as compared to the last week of August, others saw a marginal increase. Meanwhile, some commodities also recorded a massive hike in prices.

The markets visited include: Ashaiman, Tema Community One, Seven, Kaneshie, Kpone, Katamanto and Makola.

At the Ashaiman market, traders attributed the high prices of commodities to the unfavourable weather conditions which affected farmers’ output. This, they noted, put pressure on traders to increase prices due to scarcity.

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In the intervening time, the prices of carrot remained at GH¢180.00. However, ginger recorded a 100 percent increase in price as it moved from GH¢400.00 recorded last week to GH¢800.00 this week.

At the Tema Community One market for example, the price of a bag of onion differs based on the country of origin and quality. Those from Ghana went for GH¢750.00, while the ones from Nigeria was pegged at GH¢550.00 and those from Niger at GH¢570.00.

The average price of Ghanaian onions increased from GH¢600.00 last week to GH¢ 800.00 this week and a sack of palm nut also moved from GH¢140.00 to GH¢160.00 this week.

In addition, a sack of Pepper moved up from GH¢400.00 last week to GH¢530.00 this week while garden eggs recorded no change in price. The price of garden eggs was pecked at GH¢200.00 per sack.
Okro pegged at GH¢140.00 per basket. Also, cabbage saw a marginal increase from GH¢950 recorded last week to settle at GH¢1,000.00 per sack this week. Moreover, green pepper price also moved from GH¢120.00 recorded last week to GH¢150.00 this week.

Furthermore, a bag of millet saw no price movement as it remained pegged at GH¢380.00. Cowpea also remained at GH¢450.00 and soya beans went for GH¢440.00.

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Beans however moved from GH¢650.00 last week of August to GH¢1,000.00 this week, while maize price also moved from GH¢480.00 in August to GH¢500.00 this week.

Additionally, a bag of gari remained at GH¢800.00 and groundnut also at GH¢750.00. Rice ranged from GH¢260.00, GH¢275.00 and GH¢290.00 per 25kg depending on the brand.

A tuber of yam ranged from GHS 8.00, to GH¢14 00 depending on the size. Cassava also moved from GH¢100.00 last week to GH¢250.00 per sack this week depending on the type. Cocoyam also moved from GH¢450.00 last week to GH¢500.00 per sack this week and a bunch of unripe plantain moved from GH¢50.00 last week to GH¢70.00 this week.

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A carton of fish pegged at GH¢400.00 while a crate of tomatoes also moved from GH¢1,300.00 to GH¢1,400 this week for the local and GH¢1,800.00 to GH¢2,000.00 for the foreign type.

It is however, worth noting that while some traders blamed the trend on scarcity of the foodstuffs, others blamed the fluctuations on poor roads that were impeding the transportation of the goods from the farming communities to marketing centres. The traders noted that the poor roads are rendered worst by the raining season. They therefore, call on the government to fix the roads in the country, especially the ones in the farming communities to ease transportation of goods.

READ ALSO: Govt of Ghana Securities Close the Week Lower

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Tags: CommoditiesFoodstuffs pricesMarkets in Accra
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