The President of the Ghana Union of Traders’ Association (GUTA), Clement Boateng, has raised concerns over rising freight charges, attributing the development to disruptions in global shipping routes caused by tensions in the Middle East.
According to him, importers, particularly those sourcing goods from the United Arab Emirates (UAE), are facing increased costs as shipping companies have been forced to reroute vessels through alternative routes due to the situation in the region.
Speaking at Channel One TV’s Quarterly Economic Outlook themed “A Mid-Year Review of the Ghanaian Economy: Progress, Risks and Outlook” on Thursday, July 9, he lamented how the high cost has become a major challenge for businesses and is affecting their operations.
“I have had my goods locked up in the UAE since March. It was just three weeks ago that they had to make an arrangement to reroute the container, because if they say they are not doing that, the goods will be there, and I will also be sitting down here suffering,” he said.
Mr. Boateng noted that the cost of freight cannot be considered separately from other factors such as exchange rates and insurance charges, as all these variables, he stated, contribute to the final prices of imported goods.
He urged importers to consider the combined impact of these factors when determining prices, adding that none of them can be isolated as the single biggest contributor to rising costs.
