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Market Price of Beans in Ghana

Price of Beans
Picture Source: Pulse Ghana

Beans are a staple food in Ghana, and they are consumed by many households across the country. Various factors, including demand, supply, production, and transportation costs influence the market price of beans in Ghana.

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According to Selina Wamucii, a global agricultural marketplace, the retail price range for Ghana beans in October 2023 is between US$ 2 and US$ 4 per kilogram or between US$ 0.91 and US$ 1.81 per pound(lb). However, the price of beans in Ghana may differ from this due to various factors.

In this article, we will explore the market price of beans in Ghana, including the factors that influence it and the current trends in the market. 

Market Price of Beans in Ghana

Beans are a staple food in Ghana, and they are consumed by many households across the country. The price of beans in Ghana may differ from this due to various factors. Beans are a versatile food that can be cooked in various ways, including boiling, frying, and baking. They are also a great source of protein, fibre, and other essential nutrients.

Beans are loved by Ghanaians and are a common ingredient in many traditional dishes, such as waakye, red-red, and beans stew. The beans industry in Ghana presents opportunities for employment and income generation, especially for smallholder farmers. However, the industry faces challenges such as poor market facilities, inadequate storage facilities, and inadequate access to credit facilities.

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To ensure the sustainability of the beans industry in Ghana, the government should implement initiatives to address the challenges faced by the industry and encourage foreign investors to invest in the industry. Understanding the market price of beans in Ghana is essential for both buyers and sellers to make informed decisions.

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Factors Affecting the Price of Beans in Ghana

Supply: The supply of beans in Ghana also affects its price. When the supply is low, the price tends to increase, and when the supply is high, the price tends to decrease.

Demand: The demand for beans in Ghana affects its price. When the demand is high, the price tends to increase, and when the demand is low, the price tends to decrease.

Cost of Production: The cost of production of beans in Ghana is a significant factor that influences its price. The cost of production includes the cost of raw materials, labour, and equipment. When the cost of production is high, the price of beans tends to increase.

Transportation: The cost of transportation of beans from the production site to the market also affects its price. When the cost of transportation is high, the price of beans tends to increase.

Location: The location of the beans affects the price of beans in Ghana. Beans that are grown locally tend to be less expensive than imported beans.

Current Market Price of Beans in Ghana

The retail price of beans ranges between GHC 21 to GHC 43 per Kilogram and GHC 9 to GHC 20 per pound. You can buy a cup of beans between GHC 8 to GHC 10.

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Where to Buy Beans in Ghana

You can buy beans from any local market, the mall and online marketplaces. The local markets include the Agbogbloshie Market, Kumasi Central Market, Tema Market etc.

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In conclusion, the market price of beans in Ghana is influenced by various factors, including demand, supply, cost of production, transportation, location, and size.  The price of beans in Ghana may differ from this due to various factors. Beans are a versatile food that can be cooked in various ways, including boiling, frying, and baking. They are also a great source of protein, fibre, and other essential nutrients. Beans are loved by Ghanaians and are a common ingredient in many traditional dishes. 

Understanding the current market price of beans in Ghana is essential for both buyers and sellers to make informed decisions.

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