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Ghana's vegetable imports suffer due to currency depreciation

As Ghana’s currency depreciation continues, vegetable importers across the country, like people in many other businesses, are feeling the pain of falling profits.

Both wholesale and retail prices of onions have gone up. A 50-kg bag of onions imported at the cost of 300 Ghanaian cedis (38.46 U.S. dollars) before January now costs 500 Ghanaian cedis (64.10 dollars) reports newsghana.com.gh

Besides the depreciation, increased costs of transport and some extra fees charged in the region also contributed to the price hike.

The Bank of Ghana has said the Ghanaian cedi depreciated by 15.6 percent against the U.S. dollar during the first quarter of this year.

 


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