Prices of Commodities Increase After Lockdown

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According to Esoko, a commodity price survey service organisation, the prices of cassava, maize and other food items have gone up after the lockdown.

The Boyd has also predicted – the prices of other food commodities’ continuous rising, in the upcoming weeks. Due to the impact of COVID-19 on supply and production of some commodities. 

This is based on the fact that, for the post lockdown period, two of the major staple foodstuff, cassava and maize recorded increase in prices across some markets surveyed in the country. 

Esoko’s analysis on seven markets in the country showed that the price of a 91kg of cassava, recorded the highest increase. An increase of 28.84%,  which made the price channel towards GH¢ 124 in April 2020, compared to March which was Gh¢ 88.30

This was followed by tomatoes and yams (Puna) 

Following countrywide analysis of commodity prices for April, after the lifting of the partial lockdown imposed to reduce the spread of the coronavirus, Esoko predicted the rising of food commodity prices in May. 

“With the modification of how markets are set up in some areas, coupled with the fact that we are in the production period, it is expected that commodity prices will continue to show some upward movements,” they said. From their April survey: there was a hike of 28.84% in the price of cassava to close the month at ¢124.33 per bag, with tomato also making a gain of 24.18% per crate to close at ¢826. ‘Puna’, gained 22.11% to close at ¢814.67 per 100 tubers. 

The average price of a bag of maize gained 18.11% to close at ¢164 with cowpea also making a gain of 15.26% to close at ¢428.29 per bag. 

Gari closed at ¢228.29 representing an increase of 13.66% in price, with millet closing at ¢247.57 representing an increase of 7.64%. 

Local rice (white) gained 4.98% to close at ¢346.29 with soya also gaining 4.11% to close at ¢271.71 per bag. 

Wheat increased by 4.51% to close at ¢296.40 per bag with groundnut shelled gaining 3% to close at ¢549.71 per bag.

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