Ghana’s fisheries economy: Market-women navigate dynamics of price fluctuations

Ghana can boast of a flourishing fisheries industry, generating approximately US$1 billion in revenue annually.

However, beneath this profitability lies a complex reality: the cost of catching and managing fisheries in Ghana exceeds the benefits, ultimately burdening the end consumer.

Despite Ghana’s coastal abundance teeming with diverse fish species, accessing seafood remains both costly and challenging.

Millicent Abbey, a seasoned fishmonger along James Town Beach with over two decades of experience, sheds light on the ever-evolving market landscape, particularly over the past year

“Despite our coastal location, local fishermen are facing challenges in their catch, leading to increased prices for seafood. Just a year ago, a carton cost GHS 450, but now prices have soared to an average of GHS 1200 to GHS 1300,” she explained.

Transitioning from the seaside to Accra’s bustling inland fish market in Adabraka, where an array of dried, salted, and smoked fish from various regions like Daboya, Dambai, Bator Kope, and Yeji are brought, reveals a stark reality. Vendors lament the staggering price hikes, with fish prices more than doubling in the past year, dampening consumer interest and purchasing power.

“Once priced at GHS 15,000, the large basket of fish now commands GHS 25,000, nearly doubling in value within a year or two. This price surge means that the original GHS 15,000 can now only cover half the cost of the basket. Similarly, a single mud fish, formerly priced at GHS 15, has risen to GHS 25, causing discontent among consumers who lament the sharp increase in prices,” a trader lamented.

Additionally, Abena Mary underscores the multifaceted factors propelling the relentless surge in fish prices, shedding further light on the challenges faced by both vendors and consumers alike.

“In addition to the fish, ancillary items like nets and premix fuel have also seen price hikes, significantly affecting us traders, especially as the rainy season approaches. Moreover, overhead costs such as stall rentals, obligatory payments to stall owners, and miscellaneous taxes further burden our trading endeavours,” she added.

Source: CitiNewsroom

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