GUTA Urges Traders to Reduce Prices on Old Stock to Support Consumers
The Ghana Union of Traders Association (GUTA) is calling on traders to cut down prices of old goods to ease consumer pressure and keep businesses competitive. The Association says clearing out old stock will free up capital for new imports and help bring some relief to the market.
The appeal follows the end of a 60-day grace period for price adjustments, introduced after the cedi strengthened against the dollar. Despite the currency’s stability for more than eight months, prices of many goods have remained unchanged.
Speaking on the matter, GUTA’s Public Relations Officer, Joseph Paddy, explained that traders who continue holding old stock at higher prices risk losing customers. “The usual business cycle is three to four months. With stability lasting over eight months now, those still clinging to old prices could be pushed out of the market, especially as competitors with new stock reduce theirs,” he cautioned.
He added that keeping outdated or near-expiry goods at inflated prices was not only unhelpful to consumers but also dangerous for businesses themselves.
In May 2025, GUTA and the Association of Ghana Industries (AGI) announced a temporary price adjustment window after meeting with the Trade and Industry Minister, Elizabeth Ofosu-Adjare. The move came after public calls for prices to reflect the stronger cedi, which currently trades around GH₵10.40 to the dollar.
GUTA President, Dr. Joseph Obeng, has also urged government to sustain the currency’s stability, assuring that traders will continue adjusting prices as fresh imports arrive on the market.
