Accra, Ghana// – What do all the macroeconomic numbers and jargon have to do with the price of kenkey? Here it is: From a turbulent beginning that saw two price increases within six months, the Kenkey market had stabilized by the end of 2023. Four-cedi kenkey dominates, five-cedi kenkey is here to stay, and two-cedi kenkey is finished.
Kenkey began 2023 in the middle of a steep price increase. The Kenkey Index had first recorded four-cedi Kenkey in November 2022. As of January 2023, roughly 10 per cent of the kenkey for sale on the market was at GH¢4, and the average selling price was GH¢2.83. But by April, 41 per cent of the kenkey on offer was at GH¢4, and the average selling price was GH¢3.44.
April was also the month when the five-cedi Kenkey made its entry. By November, one-third of the kenkey on offer on the streets of Accra was for GH¢5—in the same month that the two-cedi kenkey disappeared. (Teshie was the last stop for the two-cedi Kenkey).
What is kenkey?
Kenkey, is a major Ghanaian staple made from fermented corn dough which goes through a series of steps to become a delicious ball of goodness, slightly sour and when made well, soft and yet pliable to the touch.
It can be eaten with stew, hot pepper mix with onions and little salt, soup or made into ice kenkey (mashed kenkey with groundnuts, milk, and sugar). Kenkey is the major food for the Ga people of Accra and the Greater Accra Region. It is also eaten in others of Ghana in small quantities.
While the selling price affects affordability, the value for money lies in the price of kenkey at a given weight. On that measure, kenkey started the year at 124 grams per Ghana cedi, a 20.5 per cent drop over the preceding three months, as consumers experienced a sharp drop in their kenkey well-being through shrinkflation.
The value of kenkey continued to drop another 17 per cent over the first half of the year, ending at 102 grams per Ghana cedi in July.
The market started stabilizing in July, due in part to an increased supply of maize and an increased number of seasonal kenkey sellers, according to one experienced seller. The selling price and value for money have remained stable since then, even turning around slightly.
Year-on-year, the average selling price of kenkey on the market has gone from GH¢2.75 to GH¢3.87, a 40.7 per cent increase. The value, as measured by the weight per Ghana cedi, is down 17 per cent.
But what do all these percentages and averages mean for the average Ghanaian?
- The most common selling price of kenkey on the market is now GH¢4.
- Kenkey equivalent to the weight of a sachet of water costs an average of GH¢56. (23.8 per cent more than a year ago)
- Perhaps, most important, the Kenkey Index found the best value for Kenkey in December at:
- Weija
- Teshie
- Korle Gonno
- Nungua
- Mamprobi
(Keep in mind GPRTU is increasing prices and advise yourself before travelling to buy Kenkey).
