Flashback: High demand pushes price of gari up

Tue, 18 Feb 2020 Source: www.ghanaweb.com

A survey conducted by Esoko on commodity pricing highlighted that the cost of gari shot up by four percent due to the high demand for the product on the market in 2016.

The increase in price of the commodity, sourced from cassava nationwide was as a result of the mad rush for the product by students after Senior High Schools reopened.

It was reported that most students rely on gari as backup despite the school providing them with food on a daily basis.

Read the story orginally published in 2016 by Graphic.com.gh below

The cost of gari has gone up by four per cent in the week ending February 12 as a result of increased demand across the major markets nationwide.

The increment in prices of gari on the back of increased demand comes weeks after senior high schools (SHSs) reopened after the festive season.

Students, particularly those in the SHSs and other tertiary schools, mainly rely on the commodity, sourced from cassava, to complement food provided by the schools and their individual upkeep money.

Therefore, indications are that the four per cent rise in the price of gari as observed by Essoko Commodity Price, was instigated by an increase in demand for the commodity by students.

Other increments

The survey further found that prices of wheat, yam and rice also went up between four and eight per cent within the period.

The prices of fresh tubers of cassava, soyabean, millet, cowpea and groundnut also made some gains, rising between four per cent and 12 per cent.

A ‘medium size tomato tin’ full of fresh tomatoes lost 2 per cent in Accra to close the week at 10 cedis; at Bawku, the price dropped by 33 per cent to close the week at 3 cedis 60 pesewas. In Kumasi, the price of tomato dropped by 13 per cent to close the week at 5 cedis.

Similarly, the price of a medium size tin of maize increased by nine per cent in Kumasi to close the week at GHC5 and dropped by 10 per cent in Accra to close the week at GHC4.50.

Tomato on free fall

The price of tomato also continued its free fall.

The commodity lost about 11 per cent of its price in the week under review, bringing to three the number of weeks it has experienced declines.

The price of the commodity has been dropping since the third week of January this year.

As of February 10, a medium size tomato tin was selling at GHC6.90.

The decline was across the various markets.

In Techiman and Dambai, the price of tomato dropped by eight per cent and 35 per cent to close the week at GHC7.30 GHC4.20 respectively.

Source: www.ghanaweb.com
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