Torit traders are counting low sales following the formation of the presidency of the revitalized transitional government last Saturday.
According to Radio Emmanuel, last week, one US Dollar fetches 330 South Sudanese Pounds and dropped to 270 SSP, a situation that has given hopes to consumers in Torit.
George Taban, a trader at Torit market, said the drop of dollar exchange rate has now given hopes to the traders who expect reduction on commodity prices.
‘People are now handling money with their right hand, people with the Dollar hands their money with their right hand and those with the pounds handles with their left hand. It means now there is no buying in the market, customers are not buying people are staying looking for what will be the solution’, he explained.
Another trader, Gum Geoffrey said though Dollar exchange rate is dropping, high taxes on the goods will not allow decrease in the market price.
He called for the responsible authorities to consider commodity consumers by applying reasonable taxation on the goods.
‘Now I am seeing the price of the commodity may drop, but we are still seeing as business people, we are now suffering a lot in terms of high taxation starting from Uganda through the borders and even in the market taxes are the one letting things not to drop quickly’, Geoffrey noted.
He added that ‘if the rate of dollar is dropping they have to see also the taxes rate to be reduce then everything will go well but if the taxes are very high like this I think the price of the commodity will not come down it will make our people even if peace has come they will still complain because we are over charge and we shall also charge the customers’.
The trader called on consumers and traders to create a room for negotiation and cooperation for the benefit of all.
Meanwhile, Secretary of Chamber of Commerce John Mayen appealed to the community not to have high speculations over immediate changes in the market price.
On Wednesday, 50 kg of sugar cost 10,500 SSP compared to 12000 SSP last week, 20 litters of cooking oil that cost 8,500 SSP last week, now goes for 7500 SSP while a little 50kg of wheat flour is now sold at 8,500 SSP from 9000.
Though traders still expect more changes in the market price, a little has been experienced in reduction following the formation of presidency as citizens wait for the appointment of the 35 members of the cabinet.