Persistent commodity price fluctuations blamed on variations in transport costs

A market survey conducted by the Ghana News Agency in Koforidua Central Market shows prices of cereal and vegetables have been fluctuating over the last six months, a phenomenon marketers blame on transport costs.

Particularly, the prices of maize, rice, millet, and certain vegetables were observed to differ from those of almost every vendor at the market.

Analysts said the trend is expected as the country’s annual inflation trend hit 42.2 per cent in May, up from 41.2 per cent, the month before.

This occurred after four months of declining inflation following a significant increase in food prices (51.8%) as compared to 48.7% in April.

Speaking to the Ghana News Agency, Madam Esi Ahenkorah, who sells cereals, including maize and rice, cited differences in location and surging transportation costs of goods as some of the reasons for the increase in prices.

The GNA survey revealed that a bag (50 kg) of “Pragya” rice was sold for GH₵ 610.00, while white rice costs GH₵ 600.00, with “Ama” rice going for GH₵ 450.00.

Also, while some vendors were selling a paint rubber of maize for GH₵35.00 others were going for GH₵40.00.

Meanwhile, one olonka of millet costs between 24 and 30 Ghana cedis.

When it comes to vegetable prices, one olanka of tomatoes costs 70 Ghana cedis and others 75 Ghana cedis; one paint rubber of onion costs 50 Ghana cedis; and one olonka of pepper costs 20 Ghana cedis.

Maize, rice, and millet fall under Cereal crops, are grown in greater quantities and provide more food energy worldwide than any other type of crop, according to experts, while tomatoes and onions are equally important for human health because they contain vitamin A, minerals, and dietary fibre.

Whereas, Vitamins A, C, and E play a vital role in human health, the nutrient and non-nutrient molecules in vegetables reduce the risk of chronic diseases, diabetes, cancer, obesity, and hyperactivity.