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Panic-buying: Food prices in Accra increase exponentially

March 23, 2020

Food Prices in Accra have shot up exponentially from the evening of Friday 20th of March through to Sunday 22nd March following the announcement of markets close down by the Accra Metropolitan Assembly (AMA).

The AMA, late Friday afternoon, issued a press release saying that it is going to close down all markets within its jurisdiction, temporally, to pave way for a fumigation exercise to be carried out in the markets.

The exercise was part of measures adopted by the assembly to prevent the spread of the Covid-19 pandemic in the markets.

This announcement appeared to have further heightened the
already panic-gripped populace as some of them immediately rushed to the
markets to buy all they may need to stuff their various kitchens.

A situation of demand and supply ensued due to the
panic-buying and its resultant price increases.

Markets visited

A visit by the Ghana Talks Business to the Kaneshie, Madina, Ordonna and Agbogbloshie markets, four of the major markets within the capital, over the weekend, revealed that prices of food items like tomatoes, gari, yam, among others have gone up exorbitantly.   

For instance, a container of tomatoes which previously sold at GH₵10 was now selling at GH₵60, however for those who could not afford the container, the traders sold three pieces of the tomatoes at GH₵5.

Again, Gari olonka which was selling between GH₵6-8 was now
selling at GH₵15 while a pack of pepper had shot up from GH₵1 to GH₵5.

The price of yam had also moved from GH₵10 for three tubers to GH₵20 for the same number of tubers and an olonka of palm nuts had also increased from GH₵4 to GH₵15 while tuna fish, previously selling between GH₵6-7 now sold between GH₵15-18.

On the other hand, Plantain, which was previously 10-15 pieces for GH₵6 was at GH₵6 for between 5-6 pieces while garden eggs was sold at GH₵5 for 3 pieces.

Ghana Talks Business

The post Panic-buying: Food prices in Accra increase exponentially appeared first on Ghana Talks Business.

Ghana Talks Business

Source : African Media Agency (AMA)

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