Tomato sellers at the Racecourse Market have stated that the recent high prices of the commodity are due to the lean season in the Sahel region.
They explain that the low supply of tomatoes has led to prices skyrocketing to unprecedented levels.
As a result of this challenge, traders are finding it difficult to make profit, leading to approximately 60 people being forced out of business at the market.
A small box that used to sell for around 800 cedis now priced at 1200 cedis, and a medium-sized box increasing from 1500 to 2800 cedis or even more.
Previously, 10 cedis could have purchased around 10 pieces of tomatoes between 2022 and 2023.
However, now it can barely buy 3 or 4 pieces due to the significant increase in tomato prices.This, the traders say is a major concern for their businesses.
Speaking in an In Business Report, Secretary of the Racecourse Market Tomato Sellers Association, Ofa Attah noted that a significant number of their members have lost interest in the business due to the many challenges, including the depreciation of the cedi and high cost of transportation.
“About 60 of our members have left the business because of the recent challenges and are now sitting at home, I even have their lists. They only come around when there are meetings and other activities,” he indicated.
“With the Burkina Faso tomato supply depleted, we are now dependent on local tomatoes. However, due to poor harvests caused by inadequate rainfall, prices have surged,” he added.
The escalating prices, according to the traders are discouraging potential buyers.”The smallest box at the farm now costs 1,000 cedis, with resale prices ranging from 1,100 to 1,200 cedis.This represents a significant increase from the initial cost of 800.00. Many colleagues have left the business, and I am also considering leaving due to its lack of sustainability,” one of the frustrated traders said.
Currently, Ghana still imports about 80 to 90 percent of its tomatoes from neighboring countries, which is alarming for the traders.
According to trade data from the Ghana Vegetable Producers and Exporters Association (Ghana Vegetables), annual tomato imports from Burkina Faso have surged to US$400 million from an estimated US$99.5 million in 2018.
Without significant investments in the sector, Ghana will continue to rely heavily on other countries for its tomato supply.
The traders are therefore urging the government to invest in irrigation facilities to support local farmers in growing tomatoes in larger quantities within the country.
“The absence of dams is exacerbating our challenges. If various communities in Ghana were engaged in tomato farming year-round, it would greatly benefit the business. We urge the government to invest in dam construction and support farmers,” Ofa Attah appealed.
