Esoko predicts continuous increase in food prices

Agricultural profiling and messaging service organisation, Esoko is predicting a continuous increase in the prices of food items due to uncertainty on the way forward in Ghana’s Covid-19 fight.

Following countrywide analysis of commodity prices for April, after the lifting of the partial lockdown imposed to curb the spread of the coronavirus, Esoko said food prices will increase 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,” it said.

From its 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. Pona, a variety of yam, 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.

Source: Myjoyonline