Commodity prices broadly stable – Survey

The weekly Esoko-GNA market survey conducted in major regional centres in the country on Friday showed that prices of most commodities were broadly stable at markets as compared to prices of the previous week.

While some commodity prices were unchanged at the same level compare with last week, others saw slight adjustments.

In most markets in Koforidua for example, prices of food commodities remained unchanged at last week’s levels.

The prices of items such as cassava, tomatoes, yam, smoked fish, fresh tilapia, okro, garden eggs and plantain were unchanged compared to the previous week.

In Sunyani markets, prices remained relatively the same except some few changes due to irregular prices at the farm gate.

Millet increased by 50 pesewas to GH¢3.50, while a bunch of plantain had reduced for the same price.

On the other hand, tubers of yam had increased at the same price. Four tubers of yam (average size) was now going for GH¢5.00 while four tubers of yam (large size) was now GH¢10.00 compared to three tubers in the previous week.

Traders said the recently announced increases in prices of petroleum products had not affected the prices of the commodities.

In the Kumasi Central Market, a crate of tomatoes now sells at GH¢160 up from the previous week price of GH¢145, representing an increase of GH¢15.

Similarly, a bag of onions and pepper also saw price jumps, going up by GH¢100 to GH¢350 and by GH¢40 to GH¢120 respectively.

Traders attributed the increases to excessive rainfall, leading to under supply of the commodities.

However, prices of other commodities such as garden eggs and beans slightly went down while cassava, plantain and yams were unchanged.

In the major markets in Accra, including Makola, Adabraka, Madina, Kaneshie and Labadi, commodity prices were stable.

A sack of onions, which sold at GH¢270.00 last week fell to GH¢260.00 on Friday at the Kaneshie market. At the Madina market the same quantity was going for GH¢230.

The prices of items such as rice, wheat, maize, and pepper have, however, remained the same in most markets in Accra this week.

Prices of foodstuffs such as cassava, cocoyam, and plantain on the market were stable, going for between GH¢1.00 and GH¢2.00 on Friday depending on the quantity.

On the other hand, the price of yam was still on the high side as the old stocks dried up and the newly harvested ones were yet to reach the market centres.

A small tuber of yam was being sold for GH¢5.00 whiles a big size went for GH¢7.00.

Garden eggs, okro, pepper, kontomire, cabbage and green pepper saw stable prices in the week.

Prices of foodstuffs at the Takoradi market also remained stable, mainly to sustained supplies from the hinterlands.

In the Tamale and the Aboabo markets, prices of some local commodities had increased slightly while others remained stable this week.

Prices of beans, onions, millet and yam in the two markets had increased marginally. While prices of other commodities remained stable, prices for millet increased by 50 pesewas.

The price of soyabeans, however, decreased by GH¢4.50 while tomatoes decreased by GH¢2.00. The price of maize also fell by 20 pesewas.

An Olonka (American tin) of groundnuts, which was sold for GH¢6.00 the previous week, was now going for GH¢6.50 this week.

In sum, commodity prices in the other regional centres presented similar patterns, with prices either taking a slight dip or marginal increase in some areas, whiles in other areas they remained at the same level as the previous weeks.

Source: GNA