The Food and Beverage Association of Ghana (FABAG) has reported a decline in the prices of essential commodities in the sector, with further decreases anticipated shortly.
During a stakeholder meeting with the Minister for Finance, FABAG’s Executive Secretary, John Awuni, confirmed that the prices of vital products such as sugar and rice have begun to decrease.
“As of today, we have lowered sugar prices by approximately 7%, and rice prices have adjusted by around 10%.
As importers, we are actively working to reduce prices; however, it is unfortunate that others in the supply chain are not responding accordingly,” stated Mr. Awuni.
He stressed the importance of a unified approach to ensure that these price reductions provide genuine relief to the public.
“We believe this should be a collective national initiative. We are advocating for a nationwide campaign for price reductions. If others also take action, it will positively impact the lives of everyday Ghanaians,” he urged.
The Minister for Finance, Dr. Cassiel Ato Forson, praised FABAG for its leadership and encouraged other trade associations, including the Ghana Union of Traders’ Associations (GUTA), to emulate FABAG by lowering their prices.
“We are witnessing improvements in the cedi and a slowdown in inflation.
It is time for businesses to reflect these changes in their pricing. I urge GUTA and others to join this effort so that Ghanaians can genuinely experience the recovery,” remarked the Minister.
