Consumers are poised to benefit from a fresh wave of price cuts on imported foodstuffs and beverages, as the Food and Beverage Importers Association of Ghana announced a significant 7% reduction in wholesale prices. The move, which comes on the back of the Ghanaian cedi’s robust appreciation against the U.S. dollar in the first quarter of 2025, is expected to ease cost pressures across the supply chain and offer some relief to consumers.
The reduction will affect a wide range of imported products handled by the Association’s members, which include food and beverage importers, manufacturers, transporters, and firms involved in the broader food supply chain.
The Association, which represents a wide network of stakeholders including food and beverage importers, manufacturers, distributors, and transporters, has attributed the price review to savings made through improved foreign exchange rates.
“We have reduced prices by 7%. That’s at the wholesale level, it means that, give or take, from now through next week, we should begin to see some price reductions on the market.” said Samuel Aggrey, Executive Secretary of the Association.
While consumers may not witness an immediate change on retail shelves, Mr. Aggrey noted that reductions will gradually become visible—especially among imported goods—as stock turnover reflects the adjusted costs.
“When you go to the market, not tomorrow, but next week, we should start seeing reductions on the import side maybe one percent, two percent, three percent. In Ghana, when prices go up, we don’t necessarily see a 20 percent jump; we see changes in single-digit cedis. So, we expect some form of downward movement in that same fashion,” he explained.
However, the Executive Secretary was quick to point out that domestically produced food items may take longer to respond to the positive currency trends. Challenges such as supply chain disruptions and the slower pace of adjustment in local production costs mean that benefits from the stronger cedi will not be immediately felt in that sector.
“There are still some constraints on the local production side. Many traders don’t even have full stock of products due to earlier challenges. But now that the cedi is gaining strength, producers might find it easier to restock and stabilize prices,” he added.
Mr. Aggrey also cautioned against rapid price drops, citing potential risks for importers who had acquired inventory at previous exchange rates.
“If the cedi drops again after we’ve already adjusted prices downward, it will be a double loss. Pricing needs to reflect a balance because most imports are priced based on the prevailing exchange rate at the time of purchase. Drastic, rapid reductions can create serious challenges,” he warned.
Industry observers say the move is likely to have a stabilizing effect on food inflation, provided the cedi continues its upward trend and global supply chains remain steady.
