• Login
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
  • Home
  • News
    • General
    • Political
  • Economy
  • Business
    • Agribusiness
    • Aviation
    • Banking & Finance
    • Energy
    • Insurance
    • Manufacturing
    • Markets
    • Maritime
    • Real Estate
    • Tourism
    • Transport
  • Technology
    • Telecom
    • Cyber-security
    • Cryptocurrency
    • Tech-guide
    • Social Media
  • Features
    • Interviews
    • Opinions
  • Reports
    • Banking/Finance
    • Insurance
    • Budgets
    • GDP
    • Inflation
    • Central Bank
    • Sec/Gse
  • Lifestyle
    • Sports
    • Entertainment
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video
No Result
View All Result
No Result
View All Result
NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
No Result
View All Result
Home Business Agribusiness

Food prices will drop but not immediately – Quartey

3 years ago
in Agribusiness, Features, highlights, Home, home-news, latest News, Markets
2 min read
0 0
0
66
VIEWS
Share on FacebookShare on TwitterShare on Linkedin

Food prices will drop but not immediately – Quartey

Director of the Institute of Statistical, Social and Economic Research (ISSER) of the University of Ghana, Professor Peter Quartey, has projected food prices in Ghana to drop but not immediately.

He explained that the rising inflation in the country is due to two main factors, external and domestic. With the ongoing war between Russia and Ukraine, he said prices of food commodities and other items will certainly go up because of the effect on import.

The warfare, he belives, is not ending anytime soon.

On the domestic front, Prof Qyartey explained that food production will go up due to the raining season, a situation that will result in the drop of prices of food items but that will not be immediate.

“Where I sit, I think the inflation is coming from two sources, external that is imported inflation and domestics inflation. with the imported inflation, because we tend to import certain food items as well as other commodities, we will certainly have to import more.

The Russian-Ukraine war the effect of Covid on import and supply chain etc, it is not going to go away immediately. So certainly, we will likely to see increases in inflation.

RelatedPosts

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe

Cyber Security Authority Flags Rising Mobile Data Scam, Cautions Public

“On the domestic front, since we import oil, we import a lot of items as well as produce some locally. Food production will pick but not immediately because of the rainfed agriculture system that we have been having in our country therefore, as we experience rains, food production will pick up. So in the next couple of months we are likely to see some harvests which will minimize the effect on inflation,” he stated during an interview on TV3 News 360.

For his part, the Chief Operations Officer at Dalex Finance, Mr Joe Jackson said the rising food inflation in Ghana is gradually becoming a major concern in the country.

In his view, the country is heading to a period where people will be forced to skip meals because they cannot afford to pay for the high prices.

Read: Nigeria stocks emerge Africa’s best performers

This, he said, would lead to a crisis.

Speaking in an interview in relation to the increasing inflation rate, he said, “One of the things you have to realize is that when you listen to the Ghana Statistical Service (GSS) they will tell you that the highest inflation occurred in the prices of food.

“That is why people are worried or thinking we may be heading to a crisis because the price of food, when it is going so high hit most vulnerable in the society very hard.

“The poor and vulnerable are going to be hit very hard and the fear is that we are going to a place where food prices are so high and people skipping meals because they can’t afford it.”

The General Secretary of the Ghana Agricultural Workers Union (GAWU), Mr Edward Kareweh, has also said Ghanaians should prepare for hunger this year if immediate steps are not taken by the government to invest in the agriculture sector of the economy,

In his view, there is a deliberate attempt to reduce agriculture output in Ghana due to the low investments in the sector.

Contributing to a discussion on the impact of the ongoing geopolitical tension between Russia and Ukraine on food supply in Ghana, Mr Kareweh in an interview said, “As we speak, the food you are eating was not produced in 2022. There will be hunger, already there is hunger and the hunger will be more because I don’t foresee government getting money to support farmers to produce.”

He added, “there is deliberate policy to reduce out put. When you refuse to invest what are you doing?”

He further said that Ghana does not have enough food available to feed the people for even one month without importing more food commodities.

The reality is that a lot of food items are imported into the country therefore, when upheavals and other economic challenges occur in those countries, automatically they become Ghana’s issues, Mr Kareweh added.

“The realty is that we do not have enough food in this country. The reality is that we import so much into this country. So if there is a problem in those country you import those problems,” he said.

Source: 3news
Tags: Food prices will drop but not immediately – QuarteyghanaISSERProfessor Peter Quartey
No Result
View All Result

Highlights

Gov’t Reopens Talks With PayPal to Restore Full Service Access in Ghana

Financial Sector Assets up 34.6% in 2024 to GHS 525.59 Billion

Banking Sector Soundness Remains Robust in 2024 Amid Strong Profitability, Adequate Capital Buffers

Sha’Carri Richardson Withdraws from US Trials Following Arrest

From Singuluma to El Kaabi: Can CHAN 2024 Unleash the Next Hat-trick Hero?

Ghana to Welcome King’s Baton Relay on August 8 Ahead of 2026 Commonwealth Games

Trending

Features

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes

August 2, 2025

Parliament Adjourns Sine Die After Intense Legislative Session Marked by Reform Calls and Tributes Parliament has adjourned...

GACL Terminates Evatex Revenue Assurance Contract Amid OSP Probe

August 2, 2025

Cyber Security Authority Flags Rising Mobile Data Scam, Cautions Public

August 2, 2025

Gov’t Reopens Talks With PayPal to Restore Full Service Access in Ghana

August 2, 2025
Bank of Ghana

Financial Sector Assets up 34.6% in 2024 to GHS 525.59 Billion

August 2, 2025

Who we are?

NORVANREPORTS.COM |  Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World

NorvanReports is a unique data, business, and financial portal aimed at providing accurate, impartial reporting of business news on Ghana, Africa, and around the world from a truly independent reporting and analysis point of view.

© 2020 Norvanreports – credible news platform.
L: Hse #4 3rd Okle Link, Baatsonaa – Accra-Ghana T:+233-(0)26 451 1013 E: news@norvanreports.com info@norvanreports.com
All rights reserved we display professionalism at all stages of publications

No Result
View All Result
  • Home
  • Business
    • Agribusiness
    • Aviation
    • Energy
    • Insurance
    • Manufacturing
    • Real Estate
    • Maritime
    • Tourism
    • Transport
    • Banking & Finance
    • Trade
    • Markets
  • Economy
  • Reports
  • Technology
    • Cryptocurrency
    • Cyber-security
    • Social Media
    • Tech-guide
    • Telecom
  • Features
    • Interviews
    • Opinions
  • Lifestyle
    • Entertainment
    • Sports
    • Travel
    • Environment
    • Weather
  • NRTV
    • Audio
    • Video

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms bellow to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In
NORVANREPORTS.COM | Business News, Insurance, Taxation, Oil & Gas, Maritime News, Ghana, Africa, World
This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy and Cookie Policy.
We use cookies to ensure that we give you the best experience on our website. If you continue to use this site we will assume that you are happy with it.