COUNTRYWIDE ANALYSIS
At the end of trading in the month of August, there was a general drop in commodity prices. Tomato prices plunged by 41.69 percent to close at GHS 330.50 per crate. Pona followed with a drop of 9.07 percent to close at GHS 815.50 per 100 tubers. The price of gari educed by 6.02 percent to close the month at GHS 223.14 per bag with fresh cassava also losing 4.12 percent to close at GHS 139.50 per bag. A bag of maize lost 1.13 percent to close at GHS 162.43.
Some commodities however made gains. Cowpea (beans) gained 5.83 percent to close at GHS 469.57 with local rice also making a gain of 4.99 to close at GHS 363.57. Soya gained 3.36 percent to close at GHS 286.00 per bag with millet gaining 2.63 percent to close at GHS 256.00 per bag.
Out Look for September 2020, all things being equal, it is expected that commodity prices will continue to fall. This is because it is still the harvest season for most of the commodities grown down south of the country. This is going to increase the volumes that are supplied to the market causing prices to fall.
CROP ANALYSIS
Maize
The average price for a bag of maize lost 1.13 percent to close the month at GHS 162.43. The highest price of GHS200.00 was recorded in Dambai. The lowest price of GHS 110.00 was recorded in Bawku. It is expected that the price of the commodity will continue to fall further as more is supplied to the market.
Rice Local
The average price for a bag of local rice gained 4.99 percent to close the month at GHS 363.57. The highest price GHS 460.00 was recorded in Dambai with the lowest price of GHS 300 recorded in Takoradi. Prices will begin to fall when major producing areas harvest and supply the market.
Tomato
A crate of tomato lost 41.69 percent to close the month at GHS 330.50. The highest price GHS 460.00 was recorded in Accra and the lowest price of GHS 120.00 recorded in Kumasi. The price of the commodity continues to fluctuate on the market.
