Business union urges traders to reduce commodity prices

By Simon Deng

The Chairperson of the South Sudan Business Union and Employers’ Federation, Ayii Duang Ayii on Tuesday called on both national and foreign traders to reduce prices of commodities in the aftermath of the South Sudan Pound gaining strength against the U.S. dollar.

 “We are calling on traders, both national and foreigners to reduce prices of commodities in the market, the exchange rate for the dollar is now reducing, there is no need to keep prices up,”  Ayii said during a press conference held in Juba.

He said the business union and employers’ federation are mulling taking measures together with security authorities against traders who hike the prices of commodities at the moment.

Ayii asked the National Ministry of Finance, the Central Bank, the National Ministry of Trade and Industry and the National Ministry of Agriculture to finance agriculture to boost local production, adding that it is what alleviates the current economic crisis.

 “The government needs to shift focus from construction of roads, airports and other developments towards agriculture, we must get into agriculture, we must produce food in order to move out of this crisis,” he said.

Ayii also revealed that the prevailing relative peace and stability in the country will enable importers to supply the market with enough food and also allow farmers to produce the surplus for export.

“There is a need for cooperation between the public and private sector to realize development, we request the government with the little resources to open ways for supporting agriculture so that citizens can cultivate,” he said.

The SSP which was exchanged with the dollar at 2500 last week is currently exchanged at 1700 SSP.