National, News

Commodity prices slightly drop in Juba

By Bida Elly David


Prices of different commodities have slightly reduced in Juba as the South Sudanese Pound continues to gain value against the United States Dollar.

This has led to a drop in prices for essential food items, bringing relief to consumers.

As of Thursday, the exchange rate for $1 stood between SSP 1,750 and SSP 1,800 in the parallel market.

No.1 Citizen Daily Newspaper has established that that prices have started to decline. For instance, a 50kg bag of maize flour, previously sold at SSP 55,000, has dropped to SSP 50,000.

Similarly, a 50kg bag of beans has decreased from SSP 60,000 to SSP 57,000. Other examples include a kilogram of beef, which now costs SSP 9,500 compared to SSP 10,500 previously, a 20-liter container of cooking oil has dropped from SSP 50,000 to SSP 45,000, and a bag of charcoal is priced at SSP 9,000.

The leadership of South Sudanese business communities has been pressuring traders to reduce commodity prices.

Additionally, the Central Bank, the Ministry of Finance, and other relevant ministries conducted market inspections to exert more pressure on traders to reduce prices.

Over the past month, the forex market has witnessed significant speculation and inconsistent exchange rates, with the value of the dollar overshadowing the local currency.

However, the Central Bank’s intervention in the black market, with a robust crackdown on money traders, has resulted in a drop in the value of the hard currency, subsequently leading to price reductions for certain commodities.

Last month, Ayii Duang Ayii, the chairperson of the South Sudan Business Association, called on traders at the national and state levels to cooperate with consumers by reducing prices of goods and services.

He emphasized that as the value of the dollar decreases, traders should reduce their prices accordingly, while they may increase prices when the dollar rises.


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