Commodity price information and analysis across Ghana, for the month of November 2018.
Just as in October, most commodity prices continued their downward trend in the month of November too. This is attributed to the harvesting going on in some areas across the country. Tomato prices plunged by 20.53% closing the month at GHS 428 per crate; followed by soya which dropped 9.93% to close at GHS 255. Cowpea dropped 7.08% to close at GHS 386 with local rice prices also dropping 4.94% to close at GHS 349. Gari prices dropped by 2.41% to close at GHS 173.71 per bag with imported rice also dropping by 1.14% to close at GHS 347.80. Cassava and millet prices both dropped less than 1% to close at GHS 60 and GHS 263.43 respectively.
Although, the prices of most commodities dropped, some also appreciated in prices. Pona prices gained 11.85% to close at GHS 487.67 with groundnut prices going up by 9.23% to close at GHS 478.57. The price of maize has increased by 4.87% to close at GHS 144.71 per bag with wheat prices gaining less than a percentage point.
Out Look for December, all things being equal, it is expected that some commodities will continue to drop in prices while other commodities make gains. Maize and tomatoes are commodities to be watch out for in the coming month. Maize prices went up in November, this is a bit worrying looking at the fact that some places are still harvesting. If measures are not put in place, prices will continue to increase in the month of December.
The average price for a bag of maize gained 4.87% to close the month at GHS 144.71. The highest price GHS 180 was recorded at Kumasi with the lowest price of GHS 110 recorded at Bawku and Tamale.
The average price for a bag of local rice lost 4.94% to close the month at GHS 349. The highest price GHS 400 was recorded at Accra with the lowest price of GHS 300 recorded at Tamale.
The average price for a crate of tomato dropped 20.53% to close the month at GHS 428.33. The highest price GHS 540 was recorded at Accra and the lowest price GHS 302 was recorded at Techiman.