Commodity price information and analysis across Ghana, for the month of June 2018.
COUNTRYWIDE ANALYSIS
Commodities continued to make gains at the end of June. Out of the twelve (12) commodities featured, 8 increased in prices while 4 dropped. The highest gain of 14.05% was made by Yam (Pona) to close at GHS 692.67, with Maize following with a 7.26% increase to close at GHS 166.71 per bag. Rice local (white) also made a gain of 4.38% to close at GHS 347.41 with Cowpea white gaining 3.63% to close at GHS 379.71. Groundnut shelled and Millet both made gains under 3.5% to close at GHS 398.57 and GHS 254.86 respectively. The price of Imported Rice made a gain of 2.13% to close at GHS 317.00 with Wheat also gaining 1.56% to close at GHS 239.17.
Tomato made a significant loss of 28.16% to close at GHS 316.33 per crate with Gari also losing 2.28% to close at GHS 195.86 per bag. Cassava and Soya both made losses under a percentage point.
All things being equal, the general trend of price increases for most commodities is expected to continue for the coming month. However, it is expected that some commodities will also drop in prices in the coming month. Significantly among them is tomatoes because farmers have started harvesting the produce for the market which is expected to reduce the volumes that are imported into the country.
CROP ANALYSIS
Maize
The average price for a bag of maize gained 7.26% to close the month at GHS 166.71. The highest price of GHS 207.00 was recorded at Takoradi with the lowest price of GHS 132.00 at Bawku.
Rice Local
The average price for a bag of local rice gained 4.38% to close the month at GHS 347.41. The highest price of GHS 470.00 was recorded at Accra with the lowest price of GHS 250.00 at Takoradi.
Tomato
The average price for a crate of tomatoes lost 28.16% to close the month at GHS 316.33. The highest price of GHS 428.00 was recorded at Takoradi and the lowest price of GHS 245.00 at Dambai. The price of tomatoes has started dropping because some of the areas where the commodities are grown locally have harvested and are on the markets. All things being equal, it is expected that the prices will continue to drop further in the coming weeks.
