A recent market survey conducted by the Ghana News Agency in Koforidua Central Market reveals fluctuating prices of cereals and vegetables over the past six months. Market vendors attribute these price fluctuations to transport costs, which have been on the rise. The prices of maize, rice, millet, and certain vegetables were found to vary among different vendors in the market.
Analysts suggest that this trend is expected, considering the country’s annual inflation rate, which reached 42.2 percent in May, up from 41.2 percent in the previous month. This increase in inflation follows a four-month period of declining inflation, and it has been driven by a significant rise in food prices, specifically a 51.8 percent increase in April compared to 48.7 percent in the previous month.
Madam Esi Ahenkorah, a cereal seller, highlights location differences and escalating transportation costs as factors contributing to the price hikes. The market survey reveals that a bag (50 kg) of “Pragya” rice is sold for GH₵610.00, white rice for GH₵600.00, and “Ama” rice for GH₵450.00. The price of a paint rubber of maize ranges from GH₵35.00 to GH₵40.00, and an olonka of millet costs between 24 and 30 Ghana cedis.
In terms of vegetable prices, one olanka of tomatoes is priced at 70 Ghana cedis or 75 Ghana cedis, depending on the vendor. A paint rubber of onions costs 50 Ghana cedis, and an olonka of pepper is priced at 20 Ghana cedis.
Cereal crops, such as maize, rice, and millet, are essential food sources worldwide, providing significant food energy. Tomatoes and onions, on the other hand, are vital for human health as they contain important nutrients like vitamin A, minerals, and dietary fiber. These vegetables contribute to reducing the risk of chronic diseases, diabetes, cancer, obesity, and hyperactivity due to their rich content of vitamins A, C, and E, along with other beneficial compounds.
The fluctuating prices observed in the market highlight the impact of transportation costs and inflation on the affordability of these essential food items. As prices continue to fluctuate, it is crucial for consumers to consider their options and make informed decisions regarding their purchases.
