FABAG predicts decline in food and beverage prices in the coming weeks

The Food and Beverage Association of Ghana (FABAG) has announced that prices of cardinal commodities wrong the assemblage are opening to fall, with further reductions expected successful the coming weeks.

Speaking astatine a stakeholder engagement with the Minister for Finance, the Executive Secretary of FABAG, John Awuni, confirmed that prices of indispensable products specified arsenic sweetener and atom person started to drop.

“We person reduced sweetener prices by astir 7% arsenic of today, and atom prices person corrected by astir 10%. As importers, we are aggressively pushing prices down, but unfortunately, others successful the worth concatenation are not responding,” Awuni stated.

He emphasised the request for corporate enactment to guarantee these reductions construe into meaningful alleviation for the public.

“We judge this indispensable beryllium a nationalist effort. We are calling for a nationalist run for terms reductions. If others besides respond, it volition bespeak successful the lives of mean Ghanaians,” helium urged.

The Minister for Finance, Dr Cassiel Ato Forson, commended FABAG for its enactment and appealed to different commercialized associations, including the Ghana Union of Traders’ Associations (GUTA), to travel FABAG’s illustration by adjusting their prices downward.

“We are seeing improvements successful the cedi and ostentation is slowing. It’s clip for businesses to bespeak this successful their pricing. I entreaty to GUTA and others to enactment this effort truthful Ghanaians tin genuinely consciousness the recovery,” the Minister remarked.