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Tomato prices at the Agbogbloshie market have witnessed a significant reduction, offering much-needed relief to consumers after months of high costs. Previously, tomato prices had soared, putting a strain on household budgets and forcing many to make financial adjustments.
Recent weeks, however, have seen a marked decrease in tomato prices, attributed largely to the vegetable being in season. This change has brought some respite to both retailers and consumers. Comfort Annor, a tomato retailer at Agbogbloshie market, shared with Citi Business News that the new prices have enabled customers to make larger purchases.
“A small paint bucket of tomatoes from Navrongo is currently selling for GH₵70, while other local tomatoes are priced at GH₵60. Previously, a small paint bucket of Navrongo tomatoes was sold for GH₵150, and other local tomatoes were priced between GH₵100 and GH₵120. If we can secure a good wholesale price, we could sell them for GH₵50, but today they are being sold for GH₵60,” she noted.
Despite the drop in prices, retailers are facing new challenges as customers demand further reductions, impacting profit margins. Dede Bibioo, another retailer, reported that customers are now offering to buy a small paint bucket of tomatoes for GH₵20-30, despite the current price of GH₵50.
“A box of tomatoes that was previously sold at GH₵7,000 is now being sold to us between GH₵1,500-2,000. The smaller boxes, which were previously sold between GH₵3,500-4,000, are now selling between GH₵700-800. The wholesalers have reduced prices, but we are now having challenges finding buyers,” she said.
Consumers, on the other hand, are relieved by the price drop and are hopeful for further reductions. Sulemana Nasiru expressed optimism, noting that lower fuel prices could further decrease vegetable and tomato prices.
Retailers are also facing the urgency to sell large quantities of tomatoes to prevent spoilage. Some have called on the government to ensure all-year-round tomato farming to avoid high prices during off-seasons and to invest in factories to process raw tomatoes. Comfort Annor emphasized the need for large-scale cultivation of tomatoes to reduce dependence on imports from neighboring countries, suggesting that government intervention could greatly benefit the market.
Overall, while the price reduction in tomatoes is a welcome change for consumers, it presents new challenges for retailers striving to maintain profitability in a fluctuating market.
