Generally, shocks in the prices of keyGenerally, shocks in the prices of key

Generally, it is not able to refuse the fluctuation of prices in the production of goods and services since the capitalism and the market mechanism are operated in the economic system. The commodity bubbles have been resolved for the long time. In addition, the condition of the economic downturn which is the commodity super cycle in 2000 interrupts the growth of both domestic market and economic development due to the differently higher price of intrinsic value. Its impact is required to mitigate and alleviate the commodity prices of production. Although the consumers are able to obtain the benefit with lower prices, the domestic growth as well as GDP would be declined. Furthermore, the International action toward the issue from the United Nations regards the commodity prices downturn as the essential issue which the resolution 45/200 in 1990 focus on the trading with the developing countries and encourage transparency to strengthen the commodity market. According to Ghana, as one of the Sub-Saharan African countries, concerns the commodity cycle as the negative variable of economic development. Commodity price shocks can exhibit to many forms such as oil price shocks, shocks in the prices of key inputs, shocks in the prices of key exports and food price shocks. Ghana also depends on primary commodities for income and broadly cover a wide range of commodities. Many SSA countries have open economies with the exports of a single commodity corresponding to a high percentage of their GDP. In 2015, the economic downturn would cause the decline of commodity prices, including oil and others. In SSA counties, oil is the most important commodity traded in the region, followed by gold and natural gas. In Ghana, the main commodity for trading is agricultural product, oil, and natural resources which are the supply chains for both domestic and foreign stakeholders. In addition, the high inflation and fiscal consolidation tend to affect the growth rate and commodity cycle in Ghana as well. As the developing countries in SSA, many industries face the outcome of commodity prices which would be gradually slump as well as the economic growth in production term that would tend to be adjusted due to the commodity cycle. World Bank Vice President for Africa, Makhtar Diop, said that “The end of the commodity super-cycle has provided a window of opportunity to push ahead with the next wave of structural reforms and make Africa’s growth more effective at reducing poverty.” Although the growth of oil exporters is seen rebounding in SSA, it would be more vulnerable than exporters of agricultural and mineral commodities. Economic activity in agricultural exporters is more stable currencies, lower inflation, improved agricultural production and large infrastructure programs and mineral exporter as Ghana. Besides mineral commodity, Ghana’s main agricultural product is cocoa which depicts the effective sign of commodity price. However, Ghana still encounters the impact of plummet of global commodity prices which the domestic economy would solve the citizen’s well being despite the successful economic growth in the natural resources and the political stabilization. The statistic depicts that export revenues for oil, gold and cocoa declined from $8.2bn between January and September 2014 to $5.8bn in a year later. In addition, other agricultural products, in 2016, are tomato, groundnut, and cassava which prices of some commodities in the country have dropped marginally. As the economic issue which Ghana must confront, This obviously indicates that the economic and social condition in Ghana need to resolve despite the better development such as poverty, commodity price balance, and well being. Therefore, there are many implications which lead to alleviate the economic downturn. Firstly, Ghana Grains Council (GGC) and Financial & Commodities Ecosystem (FinComEco) are the fully integrated financial & commodities Ecosystem providing services, financing, capacity building and enablement solutions from supply to demand which platforms, projects and initiatives in the agricultural commodity markets would be relieved. In addition, to follow the SDGs value, the state should ensure both transformation and diversification of the national economy in order to boost “a fair and realistic remuneration for production, productivity, and balanced development of all regions of Ghana, to improve the conditions of life in the rural areas and to assure the basic necessities of life for its people as a fundamental duty”. According to these national solution, Ghana emphasises the diversification that the agricultural commodity and the collaboration between government and institutes are required to encourage the living condition in order to reduce the poverty in developing country that an agricultural production is the main commodity.