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Business News Fri, 22 Jan 2016

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Tomato prices drop by 15%

Tomato has in the third week of January recorded a 15 percent drop in its prices.

The average price of a medium size tomato tin is currently being sold at the market at GHS9.90.

This was followed by Cowpea, Millet and Yam.

They dropped by 3 percent each to close the week at GHS7.50, 4.80 and GHS4.40 per “olonka and “medium size tuber” respectively.

Checks by Esoko Ghana revealed that cassava and rice (local) also followed with just a percentage point loss each to close the week at GHS 5.20 and GHS7.50 per “3-4 tubers and olonka” respectively.

Esoko Ghana attributed the relatively loss in price of tomatoes to due to the

fact that in some areas there are still large volumes of the local ones.

It also discovered that the tomato prices reduced because of the short shelf life of the commodity which compels traders to sometimes reduce the price so they can sell to balance their losses.

Soya beans also gained 5 percent to close the week at GHS5.80 per olonka.

Cassava (Gari) followed with 3 percent gain to close the week at GHS4.70 per “3-4 tubers.”

Rice (imported –unclesam) also gained by a percentage point to close the week at GHS 29.30 per “1 small bag (5kg).”

The price for an “olonka” of maize on the various markets remained the same.

A “medium size tomato tin” full of fresh tomatoes lost 38 percent in Takoradi to close the week at GHS13.50 with Bawku losing 25 percent to close at GHS8.00 and also with Accra and Kumasi dropping 23 and 3 percent to close the week at GHS15.00 and GHS9.00 respectively.

The commodity however made gains in Techiman, it gained 44 percent to close the week at GHS10.00. In the other markets, the price remained the same.

Source: citifmonline.com

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