The prices of yam in various markets have more than doubled compared to the beginning of the year.
Previously selling at 15 cedis, yam is now priced between 40 cedis and 50 cedis depending on the market location.
Traders attribute this steep increase to scarcity, rising transport costs, and overall increases in the cost of living.
A visit to Mallam Atta Market in the Greater Accra Region revealed that a single tuber of yam is now priced between GH20.00 and GH55.00.
A trader, Madam Comfort, explained how the price of yam has risen significantly over the past few months.
Madam Comfort attributed the price surge to the exchange rate between the dollar and the cedi.
She noted that, “the least price you could get here is GHC25.00, the increase is as a result of the increase in transportation fare and all of that. So, if something could be done to ensure that the transport cost is reduced, I believe that the cost of yam could come down,” she stated.
“The more the cedi depreciates, the more everything else, including fertilisers imported into the country also go up, which is resulting to high cost of production and they are passing the cost to us and we also pass it to the final consumer,” she added.
Reports from the Northern Region, known as Ghana’s food basket, indicate that three tubers of yam previously sold for GHC25.00 are now priced at GHC70.00. Similar situations were observed in the Western Region.
General Secretary of the Ghana Agricultural Workers Union, Mr. Edward Kareweh, linked the soaring yam prices to the current economic challenges.
He expressed concern over the unprecedented 200 percent price increase, stating, “this reflects the poor state of Ghana’s economy.”
Mr. Kareweh concluded by highlighting systemic issues in Ghana’s agricultural sector, noting, “We have been monitoring the price increases in the foodstuffs in general, including yams. And apart from yams, all other foodstuffs are experiencing unexpected price increases. This is not a season for yam. We expect price of yam to be up, but not at this level.”
He concluded that nothing is working well, “But the unfortunate thing is that whereas we have always experienced other sectors of the economy not working well, this time around, it is at the heart of the economy, that is agriculture. And if we are unable to address the challenge within the agriculture sector, it means that we are failing to address problems that are hitting at the core of the economy.”