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Food prices to remain low – esoko

Food Prices File photo

Sat, 5 Sep 2020 Source: thefinderonline.com

Commodity prices will continue to fall this month, agricultural research firm, esoko has projected.

According to esoko, “this is because it is still the harvest season for most of the commodities grown down south of the country. This is going to increase the volumes that are supplied to the market causing prices to fall.”

Esoko reported that at the end of trading in the month of August, there was a general drop in commodity prices.

Tomato prices plunged by 41.69 percent to close at GH¢330.50 per crate. Pona followed with a drop of 9.07 percent to close at GH¢815.50 per 100 tubers.

The price of gari reduced by 6.02 percent to close the month at GH¢223.14 per bag with fresh cassava also losing 4.12 percent to close at GH¢139.50 per bag. A bag of maize lost 1.13 percent to close at GH¢162.43.

Some commodities however made gains. Cowpea (beans) gained 5.83 percent to close at GH¢469.57 with local rice also making a gain of 4.99 to close at GH¢363.57. Soya gained 3.36 percent to close at GH¢286.00 per bag with millet gaining 2.63 percent to close at GH¢256.00 per bag.

Maize

The average price for a bag of maize lost 1.13 percent to close the month at GH¢162.43. The highest price of GH¢200.00 was recorded at Dambai. The lowest price of GH¢110.00 was recorded at Bawku. It is expected that the price of the commodity will continue to fall further as more is supplied to the market.

Local Rice

The average price for a bag of local rice gained 4.99 percent to close the month at GH¢363.57. The highest price GH¢460.00 was recorded at Dambai with the lowest price of GH¢300 recorded at Takoradi. Prices will begin to fall when major producing areas harvest and supply the market.

Source: thefinderonline.com