Global financial crisis has affected food prices in
Ghana
Audrey Micah, Ghanadot
Accra, April 23, Ghanadot - The
current global financial crunch has affected food prices on
the Ghanaian market. Traders say the increase of imported
goods into the country has left them with no choice than to
also increase the prices of their wares.
A visit to the central business district in the capital
revealed that the prices of 'olonka' of palm nuts which was
selling at around GH60p between March and April last year is
currently been sold at GH¢1 at the same period this year.
This is evident in the depreciation of the cedi against the
dollar and the high inflation rate which is hovering around
20 percent.
A carton of tomatoes which was sold about GH¢100 AND GH¢150
is currently been sold at GH¢200. A crate of eggs which was
going for GH¢3 is now sold at GH¢5 and 'olonka' of gari
currently sells at about GH¢1.70p and some cases GH¢2 as
against GH .80p last year.
Tubers of yam and cassava are sold at GH¢1 and GH¢2
respectively. Traders at the Mokola market pleaded with
the government to reduce the prices of imported goods and that of
the local food stuffs so that they can be able to reduce
theirs.
Meanwhile, the World Bank has cautioned Africa to brace
itself for a tough bite from the global financial crisis,
adding that stronger fiscal policies in member countries
will ensure that the recession does not stall growth.
The World Bank Vice President Ms.Obiageli Katryn Ezekwesili
noted that although the bank is open to support African
countries in the heat of the crunch, the continent has a
bigger role to play.
She said local policy makers in Africa must consider the
support of the World Bank and other multilateral and
bi-lateral organisations as a mere adjunct to their own
efforts.
Accra, April 23, Ghanadot - The Association of Ghana
Industries (AGI) has expressed concern about the large scale
importation of goods at the expense of local industries.....More
Accra, April 22, Ghanadot - Dr Joe
Oteng Adjei, the Minister of Energy, has denied the report
that the government intends to remove subsidy on
electricity tariffs thereby increasing the price on
consumption.... More
Accra, April 22, Ghanadot/GNA
– Ghana’s struggle to attain
energy sufficiency has been
given a big boost following the
completion of the first phase of
an estimated 600 million-dollar
plant being implemented by a
joint Ghana-Sino consortium, the
Sunon Asogli Power project....More
