Ramadan and prices

Ramadan or Ramazan is the ninth month of the Islamic calendar, observed by Muslims worldwide as a month of fasting, prayer, reflection and community

It is also a time where Muslims are encouraged to support the less privileged with donations and charity work but this year’s is a tough task because of the ravaging impact of the Covid-19 Pandemic on lives and businesses

As the period draws to close, some experts are viewing it as an avenue to revive businesses in Ghana. This is because the season comes with various business opportunities. Sellers in jewelries, male and female accessories such as perfumes, deodorant/body spray, cosmetics, and fashions designers amongst others are expected to witness high sales.

Manufacturers are bracing up for a high demand perhaps not as before due to obvious reason at this moment but oil, tomatoes, rice, chicken even onions and maze dealers are all expected to be in demand.

Maize traders

Maize is usually in demand during Ramadan as it is used for what Muslims call Zakat, Zakat is one of the pillars of Islam. The doctrines of the religion, Muslims are required to give 10 percent of their savings to the poor and the needy either in cash of kind. Hence, most Muslims share food items to the poor homes in the various communities in adherence to the zakat dictates.

Maize has come to be the common food item used for the Zakat. Because of this, maize witnesses a spike in price in the last days of Ramadan because it is cheaper and can be shared to a lot more people as compared to rice. Figures indicates that one 50 kg bag of maize is currently sold at GH?164. Maize and millet are used for local drinks in Ghana.

Cooking oil

   Demand for cooking oil is normally high and sellers would be hoping that Covid-19 will not dampen to a great extent the spending of households this time. Various brands exist in the market with their prices just slightly different between them. Households are expected to go for price difference due to corona impact on income.

Rice

 Ramadan usually comes with lots of rice eating and other local food made from rice hence, households are expected to troop to the markets to buy.

It will be nice to know if the preference for foreign rice will be greater than the local rice, especially rice from China. Demand is expected to soar a little bit than last month when the partial lockdown was lifted. One 50 kg bag of imported rice (foreign) is currently selling at GH?365.80 while the local one is trading at GH?346.29

Tomatoes

 Mostly used by over 97% of households in the country, sellers would be praying that patronage will be good. Both sellers of fresh and canned tomatoes would be hoping for high demand as tomatoes will be in all pots for stew. A small rubber size sells for between 36-40 Ghana Cedis, depending on the market.

Chicken

 Poultry farms and markets across the country witness spikes in sales a day or two to the end of the Ramadan period. Many privileged Muslims troop to those places to buy chickens for their Eid celebrations and also in adherence to the Zakat obligation (giving alms).

Frozen sellers would not be left out of the market since there is always high demand for their products across markets daily.