The Importers and Exporters Association of Ghana has hinted at a possible shortage of goods on the market in the last quarter of the year.

The association says this is based on a spike in import duties and taxes at the port in the past week following an upward adjustment in the exchange rate used by the Customs Division of the Ghana Revenue Authority.

As of Tuesday the 27th of September 2022, the rate which stood at 8 cedis, 3 pesewas had been pegged at 9cedis, 5 pesewas and is due for adjustment on Tuesday, October 4, 2022.

In an interview with Citi Business News, General Secretary of the Importers and Exporters Association of Ghana, Samson Asaki Awingobit said members of the association will be forced to abandon their goods at the ports if the duties and taxes are not reduced.

“If you are unable to get the duty to pay, how will you clear your goods to come and sell on the market? If importers who did not anticipate this whooping increment cannot pay the duties, their goods will remain at the port”.

He went on to explain that the situation was certainly going to cause a shortage of commodities on the market.

“If we cannot pay the duties to pay, the goods will remain at the port and definitely, there will be a shortage” Mr Asaki Awingobit said.