Business

Price of maize shoots up

The price of maize has shot up in the markets of Kumasi, the Ashanti regional capital.

A check at some market areas in the city, including the Racecourse market, and Bantama market among others saw a rise in the price of the commodity.

A bag of yellow maize which was sold at GHS500 has been increased to GHS600 whilst the white maize has risen from GHS450 to GHS550.

A rubber of the yellow maize has gained from GHS50 to GHS60 whilst the white maize has soared from GHS45 to GHS55.

“The price increases every week,” a trader told Class News’ regional correspondent, Elisha Adarkwah, adding that, “sometimes, in a day, the price you will buy in the morning, you won’t get it at the same price in the afternoon.”

“Looking at the situation, we’re anticipating the price will rise to GHS700 per bag in the coming days,” a trader at the Racecourse market said.

The traders attributed the increase in the price of the commodity to its shortage on the market, the cost of transporting it, and the high price of chemicals the farmers use to cultivate.

The government recently banned the exportation of maize and soybean to enhance food security and ensure there is an increase in poultry and livestock production.

classfmonline.com

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