Rising costs of cola nut affecting livelihoods in Tamale - Report

The cola nut business in Tamale is reportedly facing a severe crisis due to dwindling supplies and soaring prices, impacting both traders and consumers.

The once stable source of livelihood is now struggling because of rising costs, mainly due to import dependencies and the depreciation of the Ghanaian cedi.

According to graphic.com.gh, the price of cola nuts has surged significantly over the past year.

For instance, a single cola nut, previously sold for GH¢1, now costs GH¢5.

Subsequently, a bowl containing 100 cola nuts has increased from GH¢60 to GH¢400 while a size 34 bucket has jumped from GH¢650 to GH¢1,500.

Additionally, a full bag is now going for between GH¢3,000 and GH¢5,000, depending on the CFA exchange rate at the time of import from Ivory Coast.

Cola nuts hold significant cultural value in Northern Ghana. They play a central role in traditional ceremonies and social gatherings, and they are especially important in marriage ceremonies among various ethnic groups.

The rising costs are straining businesses in Tamale as traders are worried about losing customers and their source of income if prices continue to rise.

Despite the high prices, consumers are still buying cola nuts, albeit at a slower rate. The traders attribute this situation to the depreciation of the cedi.

According to Afa Mubarik, a trader selling cola nuts in Tamale’s central market for 40 years, expressed concern about the industry's future due to over-reliance on imports from neighbouring countries like Ivory Coast.

He noted that the cedi's depreciation is also devastating for their business, as it directly affects import costs and forces them to raise prices.

Hajia Fatima, a customer, mentioned that while demand remains high, the price hikes are making it difficult for consumers to keep up.

She claimed that cola nuts are important for use in homes and traditional ceremonies, despite the struggle to afford them.

Traders and customers are hopeful that the government's intervention to stabilise the currency and support local businesses will help the cola nut trade recover.

ID/MA

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