Effects Of Coronavirus on Prices in the Market

 Simon Quaye 

17174091


Consumers must brace themselves to pay more for their  food commodities  contrary  to predictions of price reductions.

                             


                                                     

Food prices are important for several reasons. First, they are a bellwether for stress within the food system: greater than normal food price volatility often indicates that something is not right in the fundamentals that get food from farms to forks. For example, internal movement barriers and lack of transportation can lead to food not making it from rural areas to urban markets, leading to a supply-demand mismatch and perhaps upward pressure on prices. In some cases, price changes result from consumer demand shifts, such as a shift in preferences towards less perishable foods. Larger drivers outside the food system . An example is changes in currency values or oil prices also influence prices, food emphasising the interconnectedness of economies and how food systems are embedded within even larger economic systems. 



 When the most nutritious foods, such as fresh vegetables or animal-source foods (which are already comparatively pricey, become more expensive, people tend to purchase less of them; when staples become more expensive, people tend to protect their consumption of these ‘essential’ foods by reducing consumption of more ‘optional’ foods – often those highly nutritious fresh vegetables, fruits, and animal-source foods. Alternatively, they may substitute with poorer-quality versions. The result is a decrease in diet quality.

                            


In the wake of the    COVID -19 pandemic there was an astronomical increase in prices of food commodities as consumers resorted to panic buying. Food prices increased on monthly basis from March,April, May and June. Agric profiling company Essoko subsequently predicted continuous monthly  reduction of food prices due to increase supply in the harvest season.

But is that really the case  in the month of September? Speaking to NAFTI news in  one of the markets in Accra,  consumers who bear the brunt of the food price hikes did not hide their frustrations as  prices of fruits are also increasing contrary to expectations.

                 


If the food prices continues to rise,you must brace yourself to pay more for the food contrary to expectations.


Esoko reports 

            Source: Simon Fugar, Esoko.com 


Comments

Post a Comment

Popular posts from this blog

LESSER KNOWN

Image
  THE MINISTRY OF YOUTH AND SPORT REFERS TO WHEELCHAIR BASKETBALL PLAYERS IN GHANA AS LESSER KNOWNS – PRESIDENT OF GHANA WHEELCHAIR BESKETBALL FEDERATION (GWBF) - (FINAL PRODUCTION). STORY BY: EVELYN COBBINAH. NOVEMBER 4, 2021. The president of Ghana Wheelchair Basketball Federation, Max Vardon has stated that the Ministry of Youth and Sport has refused to acknowledge and develop wheelchair basketball in the country. According to him, Ghana Basketball Wheelchair Federation is referred to as lesser known sport in their budget as most of the resources are allocated and invested in football in the country. “If you go to Ministry of Sport, they would talk about lesser known sport. Why are they lesser known? Because they refuse to acknowledge and they refuse to support and they refuse to promote these so called lesser knowns. All the bulk of money in this country under the curfew of the ministry goes into football, to the exclusion of virtually everything else” he said. He add
Read more

Independence Square Jacked Into Home By Citizens.

Image
  The government and Non- governmental organizations can come together to assist homeless individuals on the streets of Accra especially those at the independence square says Madam Josephine Kumi, PRO of Odo Nti foundation. An individual found sleeping at the independence square. The Independence Square situated in the center of Accra was built in 1961 and the second largest town square or open public place in the world. It contains monuments of Ghana’s Independence struggle and serves as the venue for important national events including the annual 6 th March independence anniversary. A view of the Black Star Square symbolizing the strength of Ghana's independence.  The Square has stands that can accommodate up to 30,000, but some squatters have taken undue advantage of the poor maintenance of the facility to turn it into their residence. Some of these squatters live on temporary basis while others are permanent. The Odo nti foundation just like other non-governmental or
Read more

DANCE WITH A PURPOSE (FINAL PRODUCTION)

 PHYLLIS DELPHINA AMOAH , Accra.   Dancing With A Purpose  Dancing, a movement of the body to a rhythm, is an activity people do for various reasons such as physical fitness, mental clarity, and commonly for entertainment. Dancing is also a source of livelihood for others who work as dance instructors. There are different types of dances, both local and international such as salsa, ballet, cultural dances and choreography.  Over the years, there have been various choreography groups springing up to perform at different places in Ghana; “Dance with a purpose” is one of such groups. Dance with A Purpose, DWP, is not just a dance group but a dance school or institution, which accommodates and trains young people with the talents and flair for dance.  The group was set up in 2014 by Laud Anoo Konadu and Nicholas Botchey also known as Dancegodloyd and Afrobeast respectively. The group started with family and friends who love to dance and over time, the number increased to about 500 people.
Read more