Home Business Force on cedi: 82% of merchandise in supermarkets are imported – Exploration

Force on cedi: 82% of merchandise in supermarkets are imported – Exploration

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The insatiable taste for foreign items by Ghanaians has been summed up in revealing study which reveals that 82% of items on the important supermarkets are imported.

Done by intercontinental study and advisory business, Konfidants, the report exhibits an even much more shocking outcome – only eggs and water experienced a larger share of sale for goods produced in Ghana.

In other text, of the 23 products categories surveyed, 21 of the groups experienced most of its solutions imported into the region.

For instance, 94% of the elegance and cosmetic solutions found in eight of the important supermarkets in Accra have been all imported.

The tale was not unique for rice. Only 6% of rice bought in these supermarkets was generated in Ghana. This signifies a different 94% of the rice in Ghana’s grocery store was imported.

The jaw-dropping revelations in the report appear at a time when the cedi is reeling under intense force from other intercontinental currencies.

The big issue attributed to the increasing depreciation of the cedi has been flavor for international products imported in the state.

The details of the current market study by Konfidants provide a stressing sign to Ghana’s cedi and for the administrators of the financial state.

Taking care of Partner at Konfidants, Michael Kottoh, mentioned the information of the report demonstrate a comparable pattern in Ghana’s financial system.

Built in Ghana (MIG) products accomplish vastly much better in the ‘basic/unprocessed goods’ phase than ‘value-extra/processed goods’ section. Although processed items constitute nine of just about every 10 merchandise surveyed, only three out of each and every 20 of the processed products throughout all supermarkets are MIG, although four out of every single 10 unprocessed products are MIG,” the survey indicated.

Background

The survey was conducted between April and Could 2019 and protected eight primary supermarkets in Accra: Shoprite (Accra Mall), Video game (Accra Shopping mall), Palace Grocery store (Palace Mall), Koala (Osu), Maxmart (37), CityDia (La), Melcom (North Kaneshie) and Marina Shopping mall Supermarket (Airport). 

The study centered on the 23 main products types decided on primarily based on a preliminary baseline survey that recognized item parts in the supermarkets with MIG merchandise on exhibit.

The research is the initial in a sequence of Africa-vast surveys to check regional written content in massive supermarkets throughout the continent.

Particulars

According to the report, 56% of the water sold in these markets were MIG although 91% of the eggs bought were also MIG.

Apart from that, all the goods experienced a larger share imported into the region.

Even salt and sugar had a better percentage (51%) imported into the place.

The breakdown is as follows

Click right here to obtain the comprehensive study

 

 





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