IBANDA: FOODSTUFFS PRICES GO HIGH FOLLOWING LOW SUPPLY
BY: GLORIA
Banana vendors in Ibanda town are reaping much from the scarcity of bananas which has been caused by the pro longed drought.
As the price of a good increase, the quantity demanded by consumers generally decreases, and vice versa and as the price of a good increases, the quantity supplied by producers generally increases, and vice versa.
Usually according to the season by now the demand of banana bananas would be high; however the demand has gone down due to the increased prices.
Our reporter has done a survey to find out banana prices apparently compared to two months ago.
Midred Tumwakyire a banana vendor in Kitwe noted that bananas are now selling like a hot cake which she has reaped much from the business compared to the past season three months ago.
Agnes Aryatuha also a banana vendor in Ibanda town street vendor from Kitwe street told our reporter that a medium size banana is now sold at shs 20000/=compared to the past where it was sold between 8000/= to 10000 shillings.
