Technology and Commodity research firm ESOKO has warned that the current hikes in prices of some food stuff and commodities may last till the end of the third quarter of 2022.
Head of Content at ESOKO Francis Danso Adjei disclosed this in an interview with Accra based media house, Myjoyonline.com on May 4, 2022. He disclosed that “prices of some foodstuffs and Commodities on the market continue to rise, a development that has contributed to the March 2022 inflation rate hitting 19.4 percent”.
In a previous interview with Citibusinessnews.com, the operations Director of the firm, Nana Okyir Baidoo revealed that prices of foodstuffs are a bit high during this time of the year. He added that prices of maize and soybean have increased by 25% from January to now in Guaso market but rice has remained relatively stable. He attributed the hike in prices due unforeseeable circumstances like the weather pattern as compared to last year.
Esoko began its operations in 2008, providing market prices over SMS to smallholder farmers on development projects. The aim was to see how the emergence of mobile technology in Africa, could improve the lives of rural communities across the continent.
Traditionally focused on content services to farmers, the platform now provides powerful data collection & digitization tools, biometric profiling, analytics, as well as communication services.