May 15 2015 Yei. Taban Jacob John Deputy Chairperson of Yei Chamber of Commerce said Thursday that in Yei Prices of goods are not stable going higher every minute and hour of the day calling it an abnormal increase that require serious actions from all the citizens.
100 US Dollar in Yei as of 15 May Friday Midday sells at 1400 SSP in the black market while 100 SSP sells at 20 thousand Uganda shillings.
‘’One of the reasons as to why the prices are not stable in Yei is because of the Dollar rate. You find last week the dollar rate was at 950 SSP. Reaching to the end of last week it increased to 1050 South Sudanese pounds. This week on Monday the dollar was 1200 SSP,’’ Taban says .
‘’When we went for survey to the Market we found that prices of goods changes from last month to this month and even last week to this week,’’ the deputy chairperson explained ‘’ Now days 50 kg of sugar is sold at 500 SSP which is abnormal increment in price of goods. Soap which was sold at 80 to 95 per box has now increased to 155 SSP making things very difficult for consumers to get access and buy things to be used at their homes’’
He says business conditions in Yei are very difficult at the moment.
‘’Sack of flour is changing from time to time. If you find today at 350 tomorrow you come and find at 450 SSP,’’ he adds
Taban says now it is not clear as to why prices are going higher asking if it is dollar or importing.
The Deputy Chairperson states that since the commodities are coming from the neighboring countries traders are complaining of higher dollar rate and bad roads making it difficult for the Chamber to control prices within the municipality.
Taban advises wholesalers bringing goods in bulky to trade at a price that allow retailers sell to the final consumer at affordable prices.
‘’If the wholesaler sells at 500 SSP to the retailer, retailers may sell to final consumers at close to ten pound or more to get profit from the sugar. I urge big companies and wholesalers not to increase prices on their own,’’ Taban says.
The deputy chairperson asks businessmen to consult the Chamber in case there in need for change in commodity prices so that it is approved.
He said despite fuel crisis all the shells are selling Petrol at 7.5 to eight pounds- the old cost in the municipality adding that this have to apply to all commodities. Though diesel is not there he points no change in price. Unnecessary increment is not needed until things come to normal, Taban adds.
Member of the executive at the Chamber Emmanuel Banja Samuel appealed to the government to control the supply of dollar in the Market for the South Sudanese pounds to gain their value.
Banja advised Yei Business Community to back their businesses with farming to produce agricultural products revealing that some shops have closed due to difficulties facing local traders in South Sudan.
Rose Apayi a retailer in Yei said the hiking prices make retailers unable to decide on how much to sell a kilo of sugar, 300 milliliter of cooking oil, bar of soap because retailers use pounds not dollars.
She urged the government to promote use of the local currency other than foreign adding that hard currency should be kept in the bank not on tables along the streets.
Apayi said for retailers to maintain themselves in the market they need to sell also at higher prices which other consumers can not afford.
Traders in manufactured food staff said they increased the prices due to dollar scarcity in the Market.
The government should control the black market. If we buy dollar today at 900 tomorrow you find it has either gone up or down making us get loses. We need fix rate to sell goods at fix prices, the traders said.