South Sudan's English Daily Newspaper
"We Dare where others fear"
By Jenifer James
Traders in Juba have vowed to maintain the high prices for their merchandise until the government works to stabilize the volatile exchange rate.
Rose Kiden, a tomato seller at the bustling market known as Suk Juba, explained on Monday in an interview with The Dawn, that the price for one basin of tomatoes has skyrocketed to SSP 250,000, largely due to the volatile exchange rate.
“Without a stable exchange rate, reducing prices in the market is nearly impossible,” she said.
“I cannot lower the price of tomatoes because I bought them at a high cost, and I need to make a profit. The government should implement stable pricing for food commodities in all Juba markets, including Custom and Konyo Konyo,” said Kiden.
Her frustration are shared by many traders struggling to maintain their livelihoods amid financial uncertainty.
Another trader Abdullah Juma, said the high prices are pushing away customers, adding that they cannot lower prices because they will end up making losses.
“We want to sell, but we can’t operate at a loss. If the dollar remains unstable, we will continue to face these challenges,” said Juma.
“Everything in Juba is tied to the dollar. For instance, buying cows is based on the dollar rate. If today $100 is equal to SSP 500,000, the seller will automatically increase the price,” he added.
Juma said that the current situation is not just about survival anymore, but keeping his business alive.
“Every day feels like a gamble. We watch the dollar rate like hawks, but it never seems to favor us,” he said.
The Minister of Trade and Industry, Joseph Moum Majak recently announced new measures aimed at reducing the prices of food commodities across the country, a necessary step in a nation grappling with economic instability.
Majak unveiled a comprehensive series of initiatives aimed at enhancing food security and stabilizing prices for essential goods across the country.
He promised to inspect markets in Juba this week, offering a glimmer of hope, but traders remain wary as they wait for the government to take decisive action to stabilize the exchange rate.
