FABAG PREDICTS PRICE DROPS WITH 60-DAY UNIFORM PRICING PLAN

The Food and Beverages Association of Ghana (FABAG) has urged the adoption of uniform pricing across the food and beverage sector within the next 60 days, stressing that this will compel a reduction in consumer prices. FABAG highlighted that key products like sugar and rice have already experienced price drops of about 7% and 10%, respectively. However, inconsistent pricing in the market means these savings are not fully reaching consumers.

John Awuni, Executive Secretary of FABAG, called for a nationwide campaign to encourage businesses to implement uniform pricing, ensuring that cost reductions are passed on throughout the supply chain. He emphasized the importance of a coordinated effort to make these price cuts effective at all levels.

Finance Minister Dr. Cassiel Ato Forson praised FABAG’s initiative and urged other trade groups, including the Ghana Union of Traders’ Associations (GUTA), to support this move. He noted that the improving cedi exchange rate and slowing inflation create favorable conditions for businesses to adjust prices downward.

FABAG’s push for uniform pricing forms part of broader economic stabilization efforts aimed at easing the financial strain on households. The association remains committed to working with the government and stakeholders to make affordable prices a reality for for consumers.