Business News of 2014-06-15

Prices of foodstuff increases in Wa

Cost of living in the Wa Municipality has become a challenge to many people, especially workers as prices of foodstuff and commodities are increasing on a monthly basis.

A Ghana News Agency’s market survey at the Wa Central Market showed that owing to the high prices of foodstuff, there has been low patronage on staple foodstuff such as maize, yam, beans and rice.

As at last month, a bowl of local rice which was sold at 6.00 Ghana cedis has now increased to 7.00 Ghana cedis. A bowl of maize which was priced at 2.00 Ghana Cedis has also shot up to 2 Ghana cedis, 50 pesewas.

Three large-size tubers of yam is sold between 12 Ghana Cedis and 15 Ghana cedis while three pieces of cassava attract 2.00 Ghana cedis.

Bambara beans are sold at 6 Ghana Cedis; .50 pesewas a bowl as against 6.00 Ghana cedis last month. Groundnut was sold at 8.Ghana Cedis 50 pesewas a bowl but now increased by 50 pesewas. Wheat is now sold at 10.00 Ghana cedis instead of 9.00 Ghana Cedis.

Gari is selling at 3.Ghana Cedis 50 pesewas a bowl as against 3.00 Ghana cedis while millet and white beans still maintained their prices of 3.00 Ghana Cedis and 6.00 Ghana Cedis respectively.

A maxi bag of polish rice is now being sold at 150 Ghana Cedis as against 120 Ghana cedis last month.

Prices of commodities have also increased, as a bowl of sugar now sells at 8 Ghana cedis 50 pesewas as against 8 Ghana cedis last month, tom brown was 5 Ghana cedis is now sold at 6 Ghana cedis, and a bottle of palm oil which was 2 Ghana cedis 50 pesewas is now priced at 3.Ghana cedis.

A crate of tomatoes which was sold at 370 Ghana Cedis now sells at 400 Ghana Cedis, a mini size bowl of fresh pepper sells at 35.Ghana cedis as against 15.Ghana Cedis last month. A packet of Maggie cube now sells at 11 Ghana cedis instead of 9 Ghana 50 pesewas.

A 50 kilogramme bag of sugar was 130 Ghana now increased to 135 Ghana Cedis, a bar of key soap was 4 Ghana 30 pesewas is now sold at 4 Ghana cedis 50 pesewas, a tin of ideal milk was 1 Ghana 80 pesewas shot up 2 Ghana Cedis 50 pesewas while carnation milk also increased from 1 Ghana cedis 20 pesewas to 2 Ghana cedis.

At the livestock market, as at last month a big size local goat was 250 Ghana cedis is now selling at 400 Ghana cedis, medium size goat also attract a price of 150 Ghana cedis while a small size goat also sells at 200 Ghana cedis

A small size sahalian goat from Burkina Faso, which was sold at 600 Ghana cedis has now increased to 750 Ghana cedis, small size guinea fowl increased from 15 Ghana cedis to 20.Ghana cedis and the medium size from 20.Ghana cedis to 25 Ghana cedis. A sheep which was sold at 340 Ghana cedis now sells at 500 Ghana cedis

Some market women who spoke to the GNA, said because of high prices of foodstuff and other commodities, there was low patronage on their goods, and that had affected sales.

They said as a result of increases in price; customers are always asking for a reduction, and that practice had caused losses to them.

“If we do not reduce our prices, we cannot make sales. Take sugar for instance, we are not able to make any profit from it because the price is too high for the workers," they said.

“We hardly make good sales because customers turn away after hearing the prices of our fowls and guinea fowls. Customers are unable to afford the prices we quoted," a livestock dealer said.

They complained that while the cedi was depreciating, the prices of goods continue to increase, and that had affected their purchasing power, as many of them had their stock reduced considerably.

A woman who sells local rice said for the past one week she did not sell up to five bowls due to increases in prices.

“Many of my customers only ask to know the price of the rice and go away without buying, and this has compelled me to reduce the price in order to make sales to cater for family survival," she said.

“The reduction in price for my customers rather makes me to running at a loss, and that has also affected the capital used to start my business," she added.

Source: GNA
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