Commodity price information and analysis across Ghana, for the month of July 2018.
Most commodities continued their upward trends in the month of July. Cowpea (white) closed the month at GHS 421.86 from GHS 379.71 in June, gaining 11.10%. This makes it the highest gain in price for the month of July. Maize followed with a gain of 9.25% to close at GHS 182.14 per 100 kg bag. Groundnut gained 7.03% to close at GHS 426.57 per bag. Local rice also gained 9.09% to close at GHS 378.00, with Soya gaining less than 6.5% to close at GHS 270.14. Millet, Imported rice and Wheat all made gains of less than 6% to close at GHS 269.29, 335.00 and 251.67 respectively. Tomatoes gained 2.42% to close at GHS 324.00.
Pona, Gari and Cassava dropped in prices. Pona dropped 12.99% to close at GHS 602.67 with Gari dropping by 10.94% to close at GHS 174.43. Cassava dropped by 5.34% to close at GHS 68.00.
All things being equal, in the month of August it is expected that some commodity prices will decline – it is expected that farmers will begin harvesting at this time. These harvested commodities would find their way onto the markets thereby possibly forcing prices down.
The price of tomatoes gained 2.42% contrary to our predictions that the price would drop. It has emerged that although the volume of local tomatoes on the market is high, a significant amount has gone bad while some have rotted on farms due to rains in those areas.
The average price for a bag of maize gained 9.25% to close the month at GHS 182.14, with the highest price GHS 220 recorded at Kumasi. The lowest price of GHS 135.00 was recorded at Bawku.
The average price for a bag of local rice gained 6.17% to close the month at GHS 368.57. The highest price of GHS 480.00 was recorded at Accra with the lowest price of GHS 328.00 recorded at Tamale.
The average price for a crate of tomato gained 2.42% to close the month at GHS 324.00. The highest price of GHS 490.00 was recorded at Accra and the lowest price of GHS 240.00 was recorded at both Dambai and Tamale.