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Tomato prices plummet at Agbogbloshie market after prolonged Surge

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In a surprising development, tomato prices at the Agbogbloshie market have significantly dropped after months of soaring costs.

Previously, the market had seen a sharp increase in tomato prices, causing financial strain for both retailers and consumers.

However, recent weeks have brought much-needed relief. The vegetable being in season has contributed to this notable price reduction, a stark contrast to the high prices just a month ago.

Comfort Annor, a tomato retailer at Agbogbloshie market, noted the positive impact of the new prices on customer purchasing power.

A small paint bucket of tomatoes from Navrongo is now selling for GH₵70, while other local tomatoes are priced at GH₵60. Previously, the same quantities were sold for GH₵150 and between GH₵100 and GH₵120, respectively.

Annor added that if they could secure better wholesale prices, they could potentially sell for GH₵50, but currently, they are sold for GH₵60.

This price drop, while beneficial to consumers, has created challenges for retailers who are now struggling to attract buyers.

Many customers are seeking even lower prices, which, if granted, would negatively affect the retailers’ profit margins.

Dede Bibioo, another tomato retailer, shared that customers are now offering to buy a small paint bucket of tomatoes for GH₵20-30, down from GH₵50.

Despite the reduction, customers are still hesitant to buy. A box of tomatoes that previously sold for GH₵7,000 is now priced between GH₵1,500-2,000, and smaller boxes that sold for GH₵3,500-4,000 are now between GH₵700-800. Despite the price cuts from wholesalers, finding buyers remains a challenge.

For customers, the reduced tomato prices have alleviated financial pressures. Sulemana Nasiru anticipates further reductions, especially if fuel prices decrease.

With large quantities of tomatoes at risk of spoiling, the urgency to sell is high. Some retailers are calling for government intervention to ensure year-round tomato farming and investment in processing factories to stabilize prices and reduce dependency on imports.

Comfort Annor suggested that the government dedicate large tracts of land for large-scale tomato cultivation to prevent importation from neighboring countries, which would greatly benefit the local market.

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