Prices of staple food commodities expected to fall in August

Data from Esoko’s market survey across the country point to significant price reductions for some commodities at the end of July 2020

Prices of most staple food commodities in the country are expected to drop in August due to the bumper harvest expected to be recorded this year, despite the outbreak of COVID-19, Esoko has said.

The price of cassava dropped by 7.9% to close the month at GHC145.50 per bag, with wheat losing 6.90% to close at GHC283.20 per bag.

Groundnuts lost 3.19% to close GHC563.71 per bag with gari also losing 1.95% to close at GHC237.43 per bag. White cowpeas lost 1.83% to close at GHC443.71 per bag, while maize lost 1.71% to close at GHC164.29 per bag.

However, some commodities recorded gains, with tomatoes recording 6.55% to close the month at GHC566.83 per crate and local rice also making a gain of 2.97% to close at GHC346.29 per bag.

Varied pricing

The data also shows that commodities such as maize, rice and yam increased in price at Tamale Market, with maize recording an increase from GHC100 to GHC120 (for white maize) and GHC140 (for yellow maize), while a bag of rice increased from GHC30 per 5kg to GHC32 per 5kg, and three tubers of yam from GHC5 to GHC7.

The average price of maize per bag lost 1.71% to close the month at GHC164.29, with the highest price of GHC223 recorded in Takoradi in the Western Region, while the lowest price of GHC110 was recorded in Bawku, Upper East Region.

For local rice, the average price of a bag of local rice gained 2.97% to close the month at GHC346.29. The highest price of GHC440 was recorded at Dambai in the Oti Region, with the lowest price of GHC265 recorded in Tamale.

A crate of tomatoes also gained 6.55% to close the month at GHC566.83. The highest price for tomatoes (GHC900) was recorded in Accra and the lowest price (GHC110) recorded in Kumasi.

Some farmers in the Tamale Metropolis expressed gratitude for the intervention of subsidised fertiliser and other farm inputs that have made production efficient. They also said the rainfall pattern helped some of them to engage in off-season farming and that they expect bumper harvests this year.

* Asaase Radio 99.5 – tune in or log on to broadcasts online.

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