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JUST IN: Crate Of Eggs Hit GH¢35

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JUST IN: Crate Of Eggs Hit GH¢35, GlitzEmpire





The Ghana National Association of Poultry Farmers (GNAPF) has projected that a crate of eggs, which currently costs between GH¢22-24 depending on size, could sell at an average price of GH¢35.

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The projection in price increase per crate, is as well expected to affect the price of an egg, which currently sells at GH¢1.50 pesewas in most places.

The association has said the poultry sector is in dire need of support to stand on its feet amidst the negative impacts of the pandemic, which has become a threat to the already-collapsing industry.

Players in the poultry value chain are of the firm belief that until a pragmatic policy framework is put in place, the poultry industry cannot take its rightful place in contributing meaningfully to the country’s GDP.

Ghana currently imports over US$350 million (about 180,000 metric tonnes) worth of chicken annually, or the equivalent of five million chickens each week. The country’s own production equates about 58,000MT whereas national demand is about 400,000MT.

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Ghana also continues to import a chunk of its eggs from Ivory Coast.

But the Northern Regional Chairman of GNAPF, George Dassah expressed the group’s displeasure about the current economic situation affecting the poultry value chain.

He was addressing stakeholders in the poultry sector at the Ministry of Food and Agriculture (MoFA) conference room in Tamale.

With some poultry farms folding up due to the pandemic, cost of feed has been skyrocketing as a result of the increasing price of maize, the major ingredient in poultry feed production.

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Feed cost currently constitutes 65 percent of the total cost of poultry production. Within the space of 12 months, from August last year, the cost of 100 kg of maize has risen from GH¢130 to GH¢320-350 depending on the location the farmer is purchasing it. Though there are opportunities to augment local production, government’s assurance and policies for the sector are yet to fully benefit majority of poultry farmers.

The status of the much-touted Broiler Revitalisation Programme by government in 2021, to provide 4-million day-old chicks annually to poultry farmers for five years, has begun in the Greater Accra Region, albeit, with little sign of the initiative being spread evenly to benefit farmers nationwide.

GNAPF attributed challenges in the sector to neglect by successive governments adding, “the poultry fraternity has not experienced any concrete achievement over the years.”

The association feared that the situation would further increase unemployment rate considering the frequency of closure of poultry businesses and its associated effects in the value chain. “We are appealing to government to engage us in order to device and implement policies that would lead to the subsequent revamp of the sector,” GNAPF implored.

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, JUST IN: Crate Of Eggs Hit GH¢35, GlitzEmpire

Source: GhanaFeed.com

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Mobile Money Transaction Recorded GH¢76.2bn In January 2022

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Mobile Money Transaction Recorded GH¢76.2bn In January 2022, GlitzEmpire





Mobile Money transaction in the first month (January) of 2022 stood at GH¢76.2 billion, the Bank of Ghana has revealed in its Summary of Economic and Financial Data.

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This is Mobile Money higher than the GH¢67.9 billion recorded in January 2021, but lower than GH¢82.9 billion recorded in December 2021.

Base on the trend of Mobil Money transaction in 2021, one cannot conclude that there has been a decline in Mobile Money transaction, as a result of the anticipated approval of the Electronic Transaction Levy.

In terms of Mobile Money Interoperability, GH¢2.107 billion was recorded in January 2022, higher than the ¢906 million registered in January 2021.

The registered Mobile Money Accounts also stood at 48.4 million in January 2022, up from 48.3 million in December 2021.

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Undoubtedly, Mobile Money remained the biggest payment solution in the country with an estimated GH¢905.1 billion transactions recorded in 2021.

According to data from the Bank of Ghana, the value of mobile money transactions in January, February, March, April, May, June, July, August, September, October, November and December 2021 were estimated at ¢67.1 billion, GH¢67.9 billion, GH¢82.3 billion, GH¢83.8 billion, GH¢86.5 billion, GH¢89.1 billion, GH¢99.1 billion, GH¢81.8 billion, GH¢71 billion, GH¢80.0 billion, GH¢86.1 billion and GH¢82.9 billion respectively.

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Fuel Prices Goes Up By 50p, Crosses GH¢11 Threshold Mark In Less Than 24 Hours

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Fuel Prices Goes Up By 50p, Crosses GH¢11 Threshold Mark In Less Than 24 Hours, GlitzEmpire





Fuel prices continue to soar, topping GH¢11.30 per litre in the third week of March 2022 at some stations. Other Oil Marketing Companies are expected to hike their prices as a result of this.

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As we reported it early on, The Chamber of Petroleum Consumers Ghana (COPEC) predicted that diesel may cross the GH¢10 per litre mark.

It added that petrol will cross GH¢9 from Wednesday, March 16, 2022.

COPEC attributed its prediction on the rising cost of crude on the international market and the cedi which is currently depreciating among major trading currencies.

In a statement, it noted that the Free On Board prices of petrol increased by 19.28% from $917.48/MT to 1094.33/MT, diesel by 34.57% from $845.50/MT to $1137.78/MT and LPG by 17.42% from $845.93/MT to $993.25/MT between the first pricing window (1st-15th March 2022) and the second window (16th -31st March 2022).

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“The petroleum price indicators as published by the NPA shows that the price of Gasoil (diesel) will increase by 30.41% from GH¢8.22 per litre in this current window to Gh¢10.721 per litre beginning 16th March 2022 and ex-pump prices of Gasoline (petrol) will increase by 18.25% from GH¢8.22 per litre to GH¢727 per litre within the same period.”

COPEC has also noted that the cedi has seen a sharp depreciation against the dollar by 9.71% from GHS6.8360 to GHS7.500 to a dollar.

In addition, COPEC has said the ex-pump prices of LPG will also increase by 23% from GHS 9.8 per kg in this current window to GH¢12.04 per kg in the next window beginning March 16, 2022.

“This implies that a 14.5kg will be sold at Ghc174.58,” COPEC added.

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Prices of fuel have gone up at the pumps across the country because the Price Stabilization and Energy Recovery levy, which is a key component of the fuel price build-up, has been restored by the National Petroleum Authority (NPA) after it was suspended for about three months.

The levy was suspended last year as a means of reducing the burden on consumers.

Already, COPEC has called for the withdrawal of the levy and has now urged the government to adopt the dual pricing module to stabilise fuel prices and the accompanying economic difficulties.

Source: GhanaFeed.com

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