A report by the Ministry of Food and Agriculture (MoFA) on weekly retail prices of foodstuff has revealed that a kilogram of perfumed local rice sells at the highest price in the Abgogloshie market, the highest in all the 18 major markets in Ghana.
A kilogram of perfumed local rice and a kilogram of perfumed imported rice sell at GHS13.67 and GHS8.67 respectively, in the Abgobloshie market. The 18 markets enlisted by MoFA include Agbogbloshie, Madina, Tema, Cape Coast, Takoradi, Mankessim, Ho, Hohoe, Kintampo, Kumasi, Obuasi, Sunyani, Techiman, Goaso, Tamale, Garu, Wa, and Yendi.
The report shows that perfumed local rice is expensive in the Abgoblosie market, signifying a rise in demand for locally produced perfumed rice compared to imported perfumed rice.
Meanwhile, a kilogram of local perfumed rice sells at GHS4.51 in the Garu market, recording the lowest price in all the markets and the imported perfumed rice sells at GHS7.15. In the Bibiani market, a kilogram of perfumed local rice sells at GHS7.53, and that of the perfumed imported rice sells at GHS10.00. Averagely a kilogram of local perfumed rice sells at GHS7.08, and that of the imported perfumed rice sold at GHS9.41. Likewise, the locally produced non-perfumed rice and imported non-perfumed rice sell at an average price of GHS5.55 and GHS7.24 respectively in the main markets of Ghana.
Thus, imported rice, whether perfumed or non- perfumed sell averagely at a higher price than locally produced rice. These, analyst and market players attributed to the high importation cost.
From this analysis, some agri-experts have advised the government to invest more in the production of locally produced rice since its average demand is lower than that of imported rice.
Considering the other cereals like millet, Agbobgloshie tops in its selling price at GHS19.62 while it sells at GHS2.98 on the Garu market. It could be deduced from the report that the prices of goods and foodstuff on the Garu market looked cheaper than in the rest of the markets.
Agri-analyst have advised that more of the foodstuff sold on the Garu market should be distributed to the markets where they are most demanded to create a balance. This is because the demand for most of the commodities in the Garu is low, hence, reflecting in its price.
Surprisingly the demand for sorghum in the Hohoe and Tema markets drove its price to GHS11.03 and GHS15.28 respectively. Some experts have argued that the cost of sorghum in the Tema market is high because of the cluster of food manufacturing industries in Tema.
Averagely, prices of goods at the Tema market recorded the highest (GHS17.85) followed by prices of goods in Takoradi market (GHS13.85). Some agri-experts have attributed this to the fact that both markets are situated in port zones. Averagely, prices of goods at the Yendi market recorded the lowest price (GHS 4.44) followed by the Wa market (GHS5.54). This can be attributed to the missing data regarding some prices of food commodities.
Some agri-experts advised the Ministry to collate prices of all goods in the coming weeks to reflect the actual price ranges in all the 18 markets adding that suppliers of these commodities should source cereals from markets where they are less demanded, to the Tema and Takoradi market, where it is extensively demanded to curb the rise in their price.
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