Commodity prices see mix results

Commodity prices traded mixed for the month of May. Some commodities lost marginally to close the month, while others made gains of over 12%. Cowpea (white) and local rice both lost less than 0.5 percent to close the month at GHS 426.29 and GHS 344.86 respectively. The price of a crate of tomato gained 12.97 percent to close at GHS 933.17 with cassava also gaining 12.47 percent to close at GHS 139.83 per bag.

Groundnut shelled made a gain of 2.91 percent to close at GHS 565.71 per bag with gari also making a gain of 2.88 percent to close at GHS 234.86. Pona closed the month at GHS 837.00 making a gain of 2.74 percent. Soya closed at GHS 276.00 per bag representing a gain of 1.58 percent with maize also gaining 1.39 percent to close at GHS 166.29 per bag. Wheat made a gain of 1.08 percent to close the month at GHS 299.60 per bag.

Out Look for June 2020, all things being equal it is expected that commodity prices will continue to trade mix with some more commodities recording lower prices.

CROP ANALYSIS

Maize

The average price for a bag of maize gained 1.39 percent to close the month at GHS 166.29, with the highest price of GHS236.00 recorded at Takoradi. The lowest price GHS 99.00, was recorded at Tamale.

Rice Local

The average price for a bag of local rice lost 0.41 percent to close the month at GHS 344.86, with the highest price GHS 440 recorded at Dambai. The lowest price of GHS 246.00 recorded at Tamale.

Tomato

A crate of tomato gained 12.97 percent to close the month at GHS 933.17. The highest price, GHS 1600 was recorded at Dambai and the lowest price of GHS 420.00 recorded at Tamale.                                                                                                                                                                                                                               

Source: Businessweekghana.com