"GUTA Pledges Further Price Reductions if Port Charges Are Addressed"

GUTA Pledges Further Price Reductions if Port Charges Are Addressed

The Ghana Union of Traders Association (GUTA) has pledged that its members will reduce the prices of goods on the market if the Government succeeds in addressing the high shipping charges and fees at Ghana’s ports.

According to the Union, the current high shipping costs remain one of the key contributors to the pricing structure of goods in the country, making them relatively expensive compared to other West African markets.

Speaking on PM Express Business Edition on Joy News, 1st Vice President of GUTA, Clement Boateng, commended the Government’s recent interventions aimed at aligning shipping charges in Ghana with those in neighbouring countries.

“We are happy that the Government is listening and is taking the necessary steps to ensure fairness at the ports. If these fees are dealt with effectively, we will also do our part by reducing prices,” Mr Boateng said during the discussion themed “Mid-Year Budget Review and Expectations of Private Sector.”

Presidential Directive on Shipping Charges

President John Mahama recently instructed the Minister for Transport, Joseph Bukari Nikpe, and the Attorney-General and Minister for Justice, Dr Dominic Ayine, to take swift action in addressing unauthorised charges by shipping lines operating at Ghana’s ports.

This move followed persistent complaints from the business community regarding excessive and unapproved port fees.

Describing the President’s directive as “prudent and timely,” Mr Boateng noted that Ghanaian importers often pay significantly more in shipping fees than their counterparts in Togo, Benin, Ivory Coast, and Nigeria.

“This is not fair and it has to stop. That is why we fully back the action by President John Mahama,” he emphasised.

Price Reductions Amid Cedi Gains

Touching on the impact of the cedi’s recent appreciation, Mr Boateng revealed that GUTA members have already embarked on a second round of price reductions on selected goods.

According to him, while some reductions were delayed due to caution among traders over the sustainability of the cedi’s performance, prices are now being adjusted downwards, particularly in the auto spare parts market.

“Some items that were selling for GH₵1,500 are now going for GH₵1,200,” he said, stressing that consumers should expect more reductions as macroeconomic indicators improve.

He also urged consumers to shop around in order to encourage competitive pricing and ensure traders continue passing on cost savings to buyers.

Responding to claims that some local businesses have failed to reduce prices despite the strengthening of the cedi, Mr Boateng strongly rejected the assertion, stating that GUTA remains committed to fairness and transparency in pricing.