Despite a significant decrease in wholesale prices for tomatoes in Ghana, retail prices remain high. From Q2 to Q3 2023, the cost of a box of imported tomatoes fell by 43% from GH¢3,000 to 1,700, while locally produced tomatoes saw a 47% drop from GH¢1,500 to 800. However, consumers in Accra markets report unchanged retail prices.
Tomatoes are a vital part of the daily diet in Ghana, accounting for 40% of total vegetable expenditure. The tomato value chain is estimated to be worth over US$1billion annually. Despite the wholesale price drop, tomato retailer Hagar Asante explains that current wholesale prices are still considered high, leading to unchanged retail prices and reduced customer patronage.
Asante highlights the need for improved infrastructure, such as better roads and drainage systems, to facilitate access to markets. She also advocates for support for local farmers to boost production and maintain price stability. A study by the West Africa Centre for Crop Improvement estimates Ghana’s fresh tomato demand at approximately 2.7 million MT per annum, suggesting a potential market size of over US$537.5 million if all consumption was met with local produce.
[ GH¢10 = €0,77 ]
Source: thebftonline.com