We can’t reduce prices now – Abossey Okai spare parts dealers

Some spare parts dealers at Abossey Okai are resisting price cuts. This is despite the Ghanaian cedi's recent appreciation against the U.S. dollar.

The dealers say their current stock was bought at higher exchange rates. Reducing prices now would not be economically feasible for them. This view goes against a directive from the Abossey Okai Spare Parts Dealers Association.

The association has urged members to lower prices with the cedi's recovery. Several dealers spoke to Citi Business News about their situation. They explained that price reductions will happen only after restocking at better rates.

Francis Appiagyei, a dealer, said, “For now maybe it can’t be possible.” He noted that they ordered goods at higher rates and must sell them first. Once they restock at lower rates, prices can drop.

Yaw Ansong shared similar thoughts. He stated, “Unless I sell what I already ordered, I can’t reduce prices.” He emphasized that reducing prices now could jeopardize his job.

Other dealers believe price cuts may come if the cedi remains stable. Eric Osei Danso mentioned they understand the dollar is down and the cedi is up. However, he added they will wait to see if this stability continues before lowering prices.