Food Prices High, Beyond Means Of Poor Ghanaians – Says IEA

The Institute of Economic Affairs (IEA) has lamented that local food prices are still high and beyond the means of many people in Ghana, especially the poor.

According to IEA, many crops are still subject to seasonality and considerable price fluctuations.

The assertions of IEA are sharply in contrast to claims made by President Nana Akufo-Addo that agriculture has improved under his administration and that Ghana is no longer importing maize, and that rice imports have been reduced.

Mr. Akufo-Addo also claimed that Ghana is now a net exporter of foodstuffs and that food prices are at their lowest for decades.

However, at a press conference on Tuesday, February 25, in Accra to respond to claims made by the President in his SONA, Dr. John K. Kwakye, Director of Research, IEA, said “the fact that food accounts for 43℅ of the average Ghanaian’s monthly spending is enough evidence that food prices are still prohibitively high.”

According to him, on the whole, Ghana still has a long way to go in producing more food locally to reduce food prices and the general cost of living.

He mentioned inadequate irrigation facilities, high dominance of peasant farming, inadequate availability of high-yielding seed varieties and fertilizer, among others, as factors for low food production in Ghana.

—Daily Guide