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11.04.2011 Business & Finance

Tomato price scare

By Obed Boafo
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Esoko market watchers reported marked increases in the price of tomatoes across most markets in the week ended April 8. The average price of the commodity closed the week at GHC2.07 a kilo, from the previous week's closing of GHC1.70 a kilo. The price of the commodity in the Agbogbloshie market increased significantly in the reported period; 35 and 32 percent at the wholesale and retail levels respectively. Prices changed from GHC 1.70 and GHC 1.90 to GHC 2.30 and GHC 2.50 respectively.

The price of tomatoes was also significantly high in the Techiman, Takoradi and Hohoe markets. At the back of the increases in the price of tomatoes in most markets, the Esoko Ghana Commodity Index for both the wholesale and retail market segments rose. The retail index EGCI-R closed the week at 4995 points from the previous week's closing of 4944 points and the wholesale index closed the week at 2459 points, from the previous week's closing of 2331 points.

Over the past months, the price of tomatoes has been of a significant worry to traders and consumers. Because of the perishable nature of the produce, good harvest has always been greeted by poor market prices.

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