Prices Of Foodstuff May Go Down Soon – Commodity Analyst
Commodity analyst, Esoko Ghana, expects prices of foodstuff to decline in Ghana soon.
Some Ghanaians have been complaining about the upsurge in the prices of foodstuff across the country.
Content Manager of Esoko Ghana, Francis Danso-Adjei, in a Citi News interview said “These hikes occur in certain periods of the year, and so we are expecting that prices will begin to decline in the next few weeks, as we will soon be in the harvest season.”
While waiting for the harvest season with the hope that the price of food may go down, Mr. Danso-Adjei said in the meantime, “Ghanaians would have to pay more for things that they ordinarily paid less [for].”
Mr. Danso-Adjei attributed the hike in food prices to an increase in fuel price, which he said affected the cost of transporting farm produce, as well as the low rainfall recorded in parts of the country this year.
Stakeholders within Ghana’s food production value chain are warning of a looming food shortage if measures are not immediately taken to resolve the unavailability of fertilizer in the country by the end of the year.
They say Ghana faces a potential food crisis by 2022 if the challenges they face with regard to scarcity of agricultural materials persist.
“The situation is having a toll on us in terms of food supply. The expected average food yield has also been affected in a way. There are a lot of issues hitting us on the ground.”
“We have a looming danger, and we are moving towards it slowly. By 2022, the food crisis will be an issue. I definitely foresee it seriously, because the factors on the ground point to that. The issue of fertilizer is critical,” Seidu Mubarak, Executive Council member of the National Seed Trading Association of Ghana, said on the Citi Breakfast Show last Friday.