Traders in Juba are happy with the statement issued by South Sudan Chamber of Commerce and business union to reduce the prices of goods in the market.
Last week, the chamber of commerce and the business union issued a joint statement calling on traders to reduce market prices since the dollar exchange rate has already dropped and they have not yet bought new stocks of goods.
Many of the traders in Munuki’s Suk Libya expressed gratitude to the business union and trade chamber for the statement on price reduction.
One of the traders Mohamed Osuman said many people in Juba are sleeping hungry because of high prices but now that they are allowed to reduce prices at least people will be able to eat.
“I’m Happy that the South Sudan chamber of commerce and the business union are supporting traders. By issuing the statement for price reduction now we can have customers to buy our commodities. Even now the dollar exchange rate has come down,” the trader explained.
He called on fellow businessmen and women to lower prices in the market in order for the poor to afford to buy something.
Another trader Sarah Tabua sells second hand clothes, said it was a big challenge for them to sell commodities to clients because only few can afford to buy.
She is happy that the dollar rate is slowly lowering and now the customers can be able to purchase goods in the market.
“Even now I can reduce my prices too. Since they told us to reduce prices now people are able to buy things in the market. Even customers can now negotiate prices,” Sarah added.
After the statement by the trade chamber and business union, prices of goods have slightly reduced.
Currently 10 kilogram of sugar which was sold at 6,000 SSP is now at 3,800, and 10 Kilogram bag of rice is now at 2,800 SSP.
Meanwhile the chairperson of trade chamber in Western Bahr el Ghazal State echoed the same statement to traders in Wau to immediately reduce prices of commodities in the market.
Wol Charles Aleu pointed out that the traders have no excuse to increase prices of commodities because dollar exchange rate has dropped from 75,000ssp to 45,000ssp.
According to Catholic radio Network’s Voice of Hope Radio on Friday in Jou Market whole sale price of Sugar was 28,000ssp, flour is 32,000ssp, jerrycan of oil was 19,000ssp and sack of onions is 40,000ssp.
In addition, the Council of Ministers meeting also agreed to divert and inject the oil money into the economy to help in the stabilization process.
Market prices had gone up after an announcement made by the spokesperson of the government Michael Makuei Lueth that triggered a sudden increment in the rate of foreign currency in the country.
However, President Kiir assured citizens last Wednesday that the government did not agree yet to change the country’s currency but instead it was a suggestion that was proposed and needed to be studied by the economists.