Food Prices have shot up in the month of February 2020, latest food price index from Esoko indicates.
According to Esoko, at the end of trading activities in the month of February 2020, prices of many commodities increased.
There was a hike in the price of tomato from GHS 507.50 the
previous month to GHS 619.33 per crate in February, representing an increase of
22.04% with cassava also trading at GHS 89.50 per bag representing 6.34% increase.
The report further indicates that Groundnut gained 4.69% to close at GHS 526.14 per bag with soya gaining 3.06% to close at GHS 250.57.
In addition to this, Millet also gained 2.83% to close at
GHS 228.71 per bag with local rice also making a gain of 2.62% to close at GHS
325.00 per bag.
Maize made a gain of 1.96% to close at 133.86 per bag with
gari also gaining 1.30% to close at GHS 189.14 per bag.
Both cowpea and pona increased less than a percentage point
to close the month.
Wheat and imported rice both dropped less than a percentage
point to close the month.
Outlook for February 2020: all things being equal, it is expected that majority of the commodities will see an increase price.
The average price for a bag of maize gained 1.96 percent to
close the month at GHS 133.86. The highest price of GHS 187 was recorded at
Takoradi. The lowest price of GHS 95.00 was recorded at Bawku.
The average price for a bag of local rice gained 2.52
percent to close the month at GHS 325. The highest price of GHS 413 was
recorded at Dambai, with the lowest price of GHS 233 recorded at Tamale.
A crate of tomato gained 22.04 percent on average
to close the month at GHS 619.33. The highest price of GHS 883 was recorded at Dambai, and the lowest price of GHS 370.00 recorded at Kumasi.
Data Source: Esoko
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