Business News of 2014-07-27

Tomato price inches up, others fairly stable

At the back of slight increases in the price of tomatoes in most markets, the EGCI-W and EGCI-R indexes inched up in the week ending July 25. The wholesale index closed the week at 24334 points, from the previous week’s closing of 23575, whilst the retail index closed the week at 27538 points, from the previous week’s closing of 27230.
Generally, most commodity prices in most markets were stable. Last week, prices had gone up at the back of transportation fare increases.
The GNA Market Watch team observed that in Tamale and also in Accra on Friday, July 25, the price change was mixed.
In the Tamale Metropolis, prices of some commodities remained unchanged, while others fell from last week’s (July 18) closing price.
For example, the price of yam in the Tamale Metropolis fell marginally while that of groundnuts increased in the two main markets of Aboabo and Tamale Central.
A bowl of groundnuts rose for the second week running, to GH¢9.00, up from GH¢8.50 the previous week.
Market Watch observed that the price of three medium sized yams, which sold for GH¢14.00 at the previous close, was down to GH¢10.00 on Friday.
Traders attributed the fall in price to the commencement of the harvesting season.
The price of a bowl of beans was also lower, closing at GH¢7.00, from GH¢8.00 last week.
Meanwhile, the price of onion saw a sharp decline, to GH¢15.00 from GH¢24.00 last week, while the price of pepper fell to GH¢6.00, from GH¢8.00.
In markets in Accra, the price trend was not different from that of Tamale. While prices of some commodities were stable, others experienced marginal appreciation.
Market Watch observed that a bowl of maize, which was sold at GH¢4.50 last week, was unchanged, while a bowl of groundnut was trading at GH¢14.00, same as last week.
A bowl of beans was unchanged, at GH¢9.00, and a sack of onions was unchanged, sold at GH¢350 is stable.
At the Tema Station market in Accra on Friday, prices of foodstuffs remained the same as that of last week.
The survey revealed that a bowl of beans for instance (Niger variety), which was sold at GH¢12.00, was the same as last week, while the Burkina variety also maintained its price at GH¢7.00. Also, a bowl of tomatoes (Burkina variety) was unchanged at GH¢22.00.
One paint rubber of garden eggs was sold at GH¢8.00, while green pepper was sold at GH¢3.00, and a bowl of soya beans was sold at GH¢9.00, while a paint rubber of red dried pepper was sold at GH¢ 15.00.
A bowl of onion was sold at GH¢10.00, while three tubers of yam was going for GH¢12.00.
At the Anyaa market, prices of commodities, including tomatoes, onion, maize, beans, millet, gari, beans and dry pepper, as well as fresh pepper remained stable.
For example, a price of a bowl of maize, which was sold at GH¢4.50 last week, was still trading at the same price, while a bowl of beans maintained its price at GH¢13.00 (Niger variety) and the (Burkina variety) at GH¢7.00.
A paint rubber of onion which last week was sold at GH¢16.00 was trading at the same price, as well as a paint rubber of tomatoes traded at GH¢9.00, also same as last week.
A paint rubber of fresh pepper, which was sold at between GH¢ 9.00 and GH¢16.00, was trading at the same price.
Source: GNA
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