The Food and Beverage Association of Ghana (FABAG) has announced a reduction in the prices of some imported food items, but says consumers are yet to benefit fully because traders and retailers have not adjusted their prices to match.

Speaking at a stakeholder meeting with the Minister of Finance on Thursday, May 8, 2025, the Executive Secretary of FABAG, Mr John Awuni, said prices of essential goods such as sugar and rice have begun to fall, largely due to decisions taken by importers.

“We have reduced sugar prices by about 7 percent as of today, and rice prices have corrected by about 10 percent,” Mr Awuni stated. 

“As importers, we are aggressively pushing prices down, but unfortunately, others in the value chain are not responding.”

He described the situation as a hurdle that limits the impact of the price cuts on ordinary Ghanaians and called for a broader, coordinated effort across the entire market.

“We believe this must be a national effort. We are calling for a national campaign for price reductions. If others also respond, it will reflect in the lives of ordinary Ghanaians,” Mr Awuni said.

The Finance Minister, Dr Cassiel Ato Forson, welcomed FABAG’s initiative and urged other trade groups, including the Ghana Union of Traders’ Associations (GUTA), to review their prices in light of recent economic gains.

“We are seeing improvements in the cedi and inflation is slowing. It’s time for businesses to reflect this in their pricing. I appeal to GUTA and others to support this effort so Ghanaians can truly feel the recovery,” Dr Forson said.

The call comes amid growing public concern that prices on the market remain high, despite recent economic indicators suggesting some level of recovery.

FABAG’s position is that unless the entire retail and distribution chain adjusts accordingly, consumers will not experience the benefits.