Blame importers and wholesalers Kumasi retailers reject calls for price cut

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Some consumer goods retailers in Kumasi say they have little to do with calls for lower prices of goods in the market.

They say importers, suppliers and manufacturers are responsible for keeping prices old and high.

Consumers have anticipated the appreciation of the cedi against major international currencies and lower fuel prices will lead to lower prices for goods.

The Ghana cedi accumulated about 33.6% in value against the US dollar in December.

Brent crude fell below $80 for the first time since January, leading to lower fuel prices at the local pump and subsequently a 15.7% reduction in transportation rates.

These factors appear to determine the prices of goods and services for traders and the business community in Ghana.

However, traders have declined calls from President Akufo-Addo and regulatory bodies like the Traders Association of Ghana to reduce the prices of goods and services to reflect the new reality.

Akwasi Agyeman, a food wholesaler in Kumasi, laments that he cannot reduce the prices of his goods because suppliers operate with the old prices.

Reducing the price of a bag of rice to 400 will reflect how I would sell mine. Although they haven’t, traders can’t.

“Until wholesalers change prices, including old and new stock, the price of goods remains the same,” he said.

Nana Adwoa Botchwey, a food vendor, says cutting the prices of her produce will put her out of business.

Reducing the price would be very difficult. None of the items sold have been discounted. Suppliers supply the items on credit, if it is sold at 50,000, reducing it to 40,000, would leave me in debt. Blame those who manufacture, import and supply the goods.

“They raised prices at the wholesale desks when the dollar rose, and they refuse to do that now. It’s not our fault, she said.

Maa Kisiwaa says that although she has reduced the prices of some of her items, she still faces other high living expenses.

She says the customer base has also been affected, as customers are willing to buy only cheaper items.

As a Christian, I sacrificed and reduced a gallon of oil from 70 to 55. With that, I use all my money to pay for the rental costs of this store.

“I’m not asking exorbitant prices, but I can’t run at a loss either. Buyers come and refuse to buy because old items are sold at old prices. They often ask the price but buy where it’s cheaper, she says.

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