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MoFA to introduce commodity price index, says Bryan Acheampong

A commodity price index is a fixed-weight index or average of selected commodity prices, which may be based on spot or futures prices

The Minister of Food and Agriculture, Bryan Acheampong has announced plans to introduce a commodity price index before the end of the year.

A commodity price index is a fixed-weight index or average of selected commodity prices, which may be based on spot or futures prices.

Speaking on the Asaase Breakfast Show on Tuesday (12 September), Acheampong said the initiative is to ensure consumers are not shortchanged.

Bryan Acheampong
Bryan Acheampong

“We are also going to release our commodity price index, because anytime we come out at the consumer price index, people want to chase me out of my office.

“The things that I control, go and look at the prices; I am producing farmgate price of maize of 50kg at GHC200 in Tamale, it gets to Accra and it is GHC800.”

“The middlemen are the ones playing it. What I am going to do is to make sure that if the farmgate is GHC200, I make sure that I have a mirror of that farmgate in Accra. I will control the distribution, bring the mirror of that fermagate close to Accra, so that when the market women come and take it, they will not add exorbitant prices,” Acheampong said.

Listen to Bryan Acheampong in the attached audio clip below: 

 

Watch the full interview in the attached video clip below:

Reporting by Fred Dzakpata in Accra

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