Cut Prices on Old Stock to Ease Consumer Pressure – GUTA To Traders

The Ghana Union of Traders Association (GUTA) is calling on its members (traders) to reduce prices on old stock to clear out inventory and make room for new imports.

According to GUTA, this move will free up capital, lower market costs, and provide relief to consumers. This advice follows the expiration of a 60-day grace period for price adjustments, introduced after the cedi’s recent appreciation.

Why Traders Must Act Now On GUTA Advice

Joseph Paddy, GUTA’s Public Relations Officer, emphasized that price stability has lasted over eight months—far longer than the typical business cycle. He warned that traders who refuse to adjust prices risk losing customers and falling behind competitors.

 

“Price stability has now held for more than eight months, well beyond the usual three-to-four-month business cycle,” Paddy explained. “If you’re still holding old stock while new goods enter the market, you could lose out. Competitors with fresh stock will lower prices, leaving inflexible traders at a disadvantage.”

Risks of Ignoring Price Adjustments

Paddy further cautioned that keeping old or near-expiry stock at high prices could force some traders out of business.

“Businesses must adapt. If you cling to outdated prices while others adjust, you risk losing sales and shutting down,” he said.

Background on the 60-Day Price Adjustment Window

On May 14, 2025, GUTA and the Association of Ghana Industries (AGI) agreed to a 60-day price adjustment period following discussions with Trade Minister Elizabeth Ofosu-Adjare. This decision came after public demands for prices to reflect the cedi’s stronger exchange rate.

Currently, the cedi trades at GH₵10.40 to the dollar, yet many goods—especially older stock bought at higher rates—remain unchanged in price.

GUTA’s Call To Traders for Continued Currency Stability

GUTA President Joseph Obeng has urged the government to maintain the cedi’s stability, assuring that traders will adjust prices as new stock arrives.

Key Takeaways for Traders

• Lower old stock prices to stay competitive.

• Avoid losses by clearing out stagnant inventory.

• Adapt to market changes or risk losing customers.

By following GUTA’s advice, traders can boost sales, attract more buyers, and keep their businesses thriving.