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In a surprising turn of events, tomato prices at the Agbogbloshie market have significantly dropped after months of soaring costs.
Previously, high prices forced many households to adjust their budgets, but the recent reduction in prices has been a welcome relief.
Comfort Annor, a tomato retailer, reported that a small paint bucket of tomatoes from Navrongo is now selling for GH₵70, down from GH₵150. Other local tomatoes are priced at GH₵60, compared to the previous GH₵100-120. Annor noted that if they secure a favorable wholesale price, they might be able to sell them for GH₵50, but the current rate is GH₵60.
Despite the lower prices, retailers are facing new challenges as customers are demanding even lower prices, impacting their profit margins. Some traders report that customers are offering as little as GH₵20-30 for a small paint bucket, which is well below the current selling price. Additionally, the prices for wholesale boxes of tomatoes have dropped significantly, but finding buyers remains difficult.
Customers are relieved by the price drop and hope for further reductions in the future. They also anticipate that a decrease in fuel prices could contribute to lower vegetable prices.
Retailers are now facing the risk of large quantities of tomatoes spoiling and are urging the government to invest in all-year-round tomato farming and processing factories to stabilize prices and reduce reliance on imports. Comfort Annor emphasized the need for large-scale cultivation and investment in local tomato processing to help manage price fluctuations and support the industry.
