The year 2019 recorded a significant drop in food prices as compared to 2018.
Minister of Food and Agriculture, Dr. Owusu Afriyie Akoto, made this known to the media on Tuesday, March 10, 2020 at the Ministry of Information Meet The Press Series in Accra.
Commenting on the impact of Food Production on Wholesale Market Prices, the Minister explained that overall food prices declined significantly in 2019 compared to 2018.
According to him, the year under review recorded a 20% average decrease for maize, rice and sorghum.
He said there was 38% average decrease for groundnuts, cowpea and soyabean and 45% average decrease for cassava and plantain.
*Implications For Consumers *
He added that lower prices would imply: increased disposable incomes for consumers.
He noted that there was reduced food inflation.
According to him, Food inflation reduced from 9.7% in 2018 to 7.2% in December 2019.
By Melvin Tarlue