The Food and Beverage Association of Ghana (FABAG) has announced early signs of declining prices across key commodities and is calling for a national price reduction campaign to ensure these gains reach consumers.
Speaking at a stakeholder engagement with the Finance Minister Dr. Cassiel Ato Forson, Executive Secretary of FABAG, John Awuni, confirmed that prices for staples like sugar and rice are already trending downward.
“We have reduced sugar prices by about 7% as of today, and rice prices have corrected by about 10%. As importers, we are aggressively pushing prices down, but unfortunately, others in the value chain are not responding,” Mr. Awuni stated.
He also stressed that the full impact of the price cuts will only be felt if wholesalers, distributors, and retailers across the value chain also adjust their pricing.
“We believe this must be a national effort. We are calling for a national campaign for price reductions. If others also respond, it will reflect in the lives of ordinary Ghanaians,” he urged.
FABAG’s leadership in initiating voluntary price cuts comes amid growing optimism about Ghana’s economic recovery, including improvements in the Cedi’s strength and a slowdown in inflation.
Finance Minister , Dr. Cassiel Ato Forson, commended FABAG for its proactive stance and appealed to other trade associations, including the Ghana Union of Traders’ Associations (GUTA), to emulate the example.
“We are seeing improvements in the cedi and inflation is slowing. It’s time for businesses to reflect this in their pricing. I appeal to GUTA and others to support this effort so Ghanaians can truly feel the recovery,” the Minister remarked.
The minister reiterated the government’s commitment to stabilizing the economy and supporting private sector efforts that drive price relief and consumer confidence.
