Togo: late rains could push prices of cereals higher this year

Wednesday, 02 June 2021 13:51
Togo: late rains could push prices of cereals higher this year

(Togo First) - The National Agency for Food Security (ANSAT) announced on May 31 it is selling part of its grain reserves. This should bring down prices which soared in the recent weeks. 

Indeed, between April and May, prices of consumption cereals jumped drastically, contrasting with performances announced for the 2020-2021 campaign. For example, the price of a bowl of corn reached CFA1000, and that of beans currently stands between CFA1200 and CFA2000 depending on the quality and variety. As for the price of sorghum, it almost doubled.    

Though the reasons behind this inflation remain blurry at the moment, Akodah Ayewouadan, minister and spokesman of the government, ties this situation to three major factors: less cultivated areas dedicated to corn, a decrease in stocks due to illegal exports, and speculation by some sellers...

Also, late rains, which most producers depend on, are concerning. These, paired with the various actions undertaken by Col. Ouro Agadazi, are bearers of bad news for the ongoing agricultural season. 

"We have two months of delayed rains, which is enough for us to anticipate a poor harvest, and therefore a weakness in supply, while demand is expected to increase as we gradually emerge from covid-19. We are expecting a rebound in the economy, therefore an increase in the consumption of commodities," said an agronomist. However, if rains keep delaying, the ANSAT may have to release new stocks on the market. 

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