Prices and markets in Ghana

The former pertain to the ability of households and individuals to acquire adequate food under normal market conditions. Transitory food security reflects both fluctuations in markets (hence food prices) and shocks to incomes, which temporarily impair a household"s ability to obtain food, especially in the absence of smoothly functioning credit, insurance, and savings institutions. This is particularly the case for poor households whose consumption is more price-responsive and who are less able to draw upon savings and other assets to buffer the fluctuations in seasonal and inter-annual prices. This study examines transitory food insecurity in Ghana as manifested in price movements in various markets. In addition, the paper examines whether any discernible changes have occurred in price movements and efficiency of markets since economic reform commenced. The paper begins with a discussion of time trends and seasonal price patterns. The next section shows a model of multi-commodity market integration, followed by the results of an analysis using this model. The final section discusses other grain market issues, including cross-border trade, storage loss, and feed use and milling.