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Business News of Wednesday, 4 September 2024

Source: GNA

Takoradi traders worried over hike in prices of grains, cereals

Ghana is following countries such as Nigeria and Ivory Coast to restrict grain exports Ghana is following countries such as Nigeria and Ivory Coast to restrict grain exports

Traders in the Takoradi Central Business District have expressed concern over the hike in the prices of grains and cereals resulting in low sales.

Some of traders who spoke to the Ghana News Agency (GNA) in an interview said the prices of the commodities had shot up marginally due to distorted weather conditions and cost of transportation to the market centres.

Madam Georgina Afful, a cereal and grains seller, said a bag of white beans, which was sold for GH¢1, 000 last year now goes for GH¢2,400.

She said a bag of Bambara beans was being sold for GH¢2,700 as compared to last year, which was sold at GH¢1,250, while a bag of millet which used to be GH¢900 now went for GH¢1,200.

Madam Afful explained that because most of the commodities were imported from Niger and Burkina Faso, the cost of transportation was high and affected the prices.

“Times are really hard and the increase in fuel prices has also affected the commodities from the producers to the market,” she added.

Madam Faustina Cudjoe, another grains seller, also expressed same sentiments, saying, “Because of insufficient rainfall this year, most producers have placed more value on the little quantities harvested resulting in the change in prices.”

She noted that a ‘paint rubber’ of maize which was sold at GH¢35 now went for GH¢45, while an ‘olonka’ of groundnut which was GH¢40 cedis last year, was now GH¢60 cedis, with soya beans going for GH¢35 instead of GH¢25.

She appealed to the government to take necessary actions to bring down the cost of food commodities to help boost their daily sales.

Rice sellers could, however, not give a specific amount, stressing that the price of rice was unstable due to the variety of rice.