[ 2016-06-28 ]

Prices of foodstuffs decline by over 80%
Prices of foodstuffs in the Greater Accra region
have begun to decline after experiencing
significant levels of hikes for close to 6 months
-from February 2016.

Checks by Citi Business News across the various
markets reveal that most food prices have reduced
by over 50% due to the abundance of the crops.
Traders attribute this turn of events to the
recent heavy downpour of rains and change in
climate conditions.

Prior to the latest development prices of various
food stuff across markets from February hit an
all-time high, hitting levels that had not been
experienced in over five years.

Majority of foodstuff such as okro, garden eggs
and nkontomire have begun seeing a significant
decline in prices, with most of them reducing by
over 80 percent.

Nkontomire for example which used to sell at 5ghc
is now going for 50p while between 10 and 14
pieces of okro is going for 1 cedi and almost same
for garden eggs.

A medium size tin of tomatoes is now going for 25
cedis from the 30 cedis recorded earlier.

Traders at the Makola market in Accra, say the
rains have finally saved their businesses from
collapse.

“The recent downpour gave way for massive yield
of foodstuff. Most especially garden eggs and
Okro. You can get so many for a very low price.”


A tomato seller also confirmed this saying “a
medium, size bucket of tomatoes used to sell at
30ghc, but it has reduced to 25ghc. It used to be
very expensive, yet not too attractive, but this
is not the case now. People are buying it more and
I’m able to make profit.”

But the latest development though positive
appears to be attracting some negative
developments.

Charlotte who trades in garden eggs at the Makola
market says due to the overabundance of foodstuffs
and decline in prices, traders who hitherto were
in the soap and detergents business have begun
taking over the foodstuffs business.

This development however makes those already in
the business unhappy as it stems up massive
competition.

“Now that the foodstuffs are in season,
everyone is selling; this deprives us of our
customers and profit. Now everybody sells these
products when it is not in season and because of
that, we prefer it when they are out of season so
customers can buy the little for us”.

Although prices of some foodstuffs have dwindled,
others like cassava, yam and plantain are still
recording hikes in their prices.

A medium size tuber of yam is still selling at
10ghc, a bunch of plantains is still selling at
100ghc and about four or five tubers of cassava is
now going for 8ghc.

A trader laments about how she is making huge
losses now.
“Now I’m encountering huge losses.
Previously, I could make good sales but now
consumers don’t even buy my foodstuffs, let
alone make good sales.”

Source - citifmonline.com

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