Despite recent gains by the Ghanaian cedi against the U.S. dollar, some spare parts dealers at Abossey Okai say a reduction in prices is not immediately possible due to high inventory costs.
The dealers insist their current stock was imported when the dollar was significantly stronger, and slashing prices now would mean selling at a loss.
Their comments come amid mounting pressure from the public and a directive from the Abossey Okai Spare Parts Dealers Association urging traders to adjust their prices in response to the improved exchange rate.
Francis Appiagyei, a dealer in the area, explained the economic difficulty of complying right away.
“We brought in these goods when the rate was much higher. It’s not realistic to reduce prices on old stock. Once these goods are sold and we restock at the new rate, then we can pass on the savings.”
Another dealer, Yaw Ansong, said price reductions at this stage could threaten his livelihood.
“If I reduce prices now, I will make a loss. I haven’t brought in any new stock yet. I need to sell off what I have first.”
Others expressed cautious optimism, noting that they are open to price adjustments if the cedi maintains its current stability.
“We are monitoring the situation,” said Eric Osei Danso. “If the dollar remains stable, then yes, we will adjust our prices accordingly. But we need to be sure this is not just temporary.”
The cedi’s recent appreciation has sparked broader national discussions around cost of living and whether businesses should quickly reflect the trend in their pricing. For now, many Abossey Okai traders say they are watching the market closely—but not rushing to change their price tags.
Click the link Puretvonline.com | WhatsApp Channel to join the WhatsApp channel
GOT A STORY?
Contact/WhatsApp: +233243201960 or Email: manuelnkansah33@gmail.com