Expect to pay more for food, following fuel increases – Agribusiness Chamber

As a result of the continuous rise in fuel prices, the Ghana Chamber of Agribusiness has hinted of increases in the prices of food stuffs produced in the country.

In an interview with Goldstreet Business, the CEO of the Chamber, Anthony Morrison said the general public should expect increases in food prices from Monday, resulting from increases in fuel prices.

“When fuel prices were going up, food prices remained the same. But this is the only way farmers can make some margins for the losses the have had to endure over past weeks,” he said.

Fuel Increases

As at last week Monday, fuel prices went up for the second time in barely two months. Both petrol and diesel prices shot up by about 2.76 percent, following an earlier increase by 5 percent.

The price of petrol and diesel are currently pegged at GHS5.21 per litre, up from the previous price of GHS5.07 per litre despite a fall in the price of crude oil in the international market.

Morrison stated that the food price increases should be expected in the whole country, however, regions that are close to farm gates will feel this increase less compared to those far from it.

He mentioned that areas such as Accra, Takoradi and Cape Coast, should see more increases.

Food Pricing Formula

He suggested that the country needs to look at the food prices formula.

“What the government need to understand is that, if a kilo of tomato should be selling at GHS 10, according to its projection and it’s being sold at GHS 12, then government needs to take a relook at the its socio-economic policies for the country,” said Morrison, adding that, this is needed to cushion the citizens against too much hardship.

By Joshua W. Amlanu