The Minister of Food and Agriculture, Dr Bryan Acheampong, has asserted that food prices in Ghana have significantly decreased in recent months.

He attributes this reduction to the effective measures implemented by the government, which he believes are yielding positive outcomes.

Speaking to journalists in Accra at the Agric Fair hosted by the Ministry, Dr Acheampong said that the prices of various food products have dropped.

However, the Abetifi MP acknowledged that consumers may still face higher costs due to profiteering by middlemen.

“We have been able to bring the price of maize down by 50%. And it is not just maize. Regarding a lot of cereals, the prices are dropping. Maize that sold at GH¢300 for a 50kg bag at the same time last year is now GH¢148, with the maximum being GH¢150, indicating a 50% drop in the price of maize.”

“But nobody is talking about it because you don’t see it translate into the price of a ball of kenkey. It means that there’s someone in the middle who is pocketing the profit,” he explained.

In recent developments, emerging evidence indicates that inadequate competition might be contributing to unjust food prices for consumers in Ghana, with retail prices escalating at a much faster rate than wholesale prices.

Certain food items, including onions, gari, and sorghum, are identified as critical areas of concern, prompting calls for national authorities to investigate and take appropriate measures.

Both local and global experts are cautioning that during this period of a food crisis, certain market players are reaping record profits, adversely affecting consumers who face inflationary prices and farmers who receive inadequate compensation.