Traders at Accra’s Avenor livestock market are experiencing a sharp decline in sales this festive season, attributing the downturn to steep price increases in livestock.
The surge in prices is primarily linked to the high exchange rate between the Ghanaian cedi and the West African CFA Franc, which has significantly raised the cost of importing animals from Burkina Faso and other Francophone countries.
Avenor, usually a bustling hub for livestock trade during the Christmas season, has seen low activity this year.
While potential buyers continue to visit the market, traders report that actual sales have been disappointingly low.
Speaking to Citi News, a trader expressed frustration over the situation, citing the impact of the exchange rate.
“People are not buying the animals, and we don’t know what is happening. The animals are costly, but it’s not their fault. It’s because of the Cedi-CFA Franc exchange rate. We have animals priced between GH¢800 and GH¢6,000,” the trader said.
Another trader pointed out the significant price hikes compared to last year.
“The CFA Franc has gone up, so goats we used to sell for GH¢1,000 are now GH¢1,500. It’s all due to the exchange rate,” the trader explained.
For many traders who rely on the festive season as a peak sales period, this year’s slump has been disheartening.
READ ALSO: