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Automotive manufacturers'' estimated market share in the U.S. 2023 Global air
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This story focuses on the most recent increase in commodity prices in Juba. The data is based on a physical market survey at Konyo Konyo Market.
By Charles Lotara
The market prices of commodities in South Sudan have been unstable since the outbreak of civil war in 2013 when the South Sudanese Pounds started losing value against the United States Dollars.
In August this year, the prices of basic commodities almost doubled after truck drivers declared strike over rampant insecurity along the Nimule – Juba Highway, the only major route that connects South Sudan to the rest of East African countries.
This phenomenon compelled the government to enforce security measures to curb the runaway level of criminality and banditry along the highway.
In mid-August, truckers trickled in after security assurance from the government. This has resulted in market stabilization. The government through the Ministry of Finance injected more forex into the market, this resulted in an improved exchange rate. But prices never went down thanks to lack of confidence from traders in sloppy regulatory policies.
And, the skyrocketing prices are worsening as the festive season approaches. A first hand assessment reveals that some have doubled their initial price tags within the space of two weeks. A continuity in trend of increase could make basic commodities unaffordable to low-income households.
On Wednesday, 01 December 2021, the Reconstituted Transitional National Legislative Assembly summoned eight institutions to explain circumstances surrounding market price hikes. These were the Ministry of Trade and Industry, Ministry of Finance and Planning, Ministry of Agriculture and Food Security, and Ministry of Roads and Bridges.
Other institutions summoned by the parliament were the National Revenue Authority, the Central Bank, Chamber of Commerce, and the National Bureau of Standards.
Paul Yoane Bonju, the Chairperson Designate of the Reconstituted Transitional National Assembly blames the government for failure to implement regulations that protect local consumers.
“The prices of commodities in our markets are very, very high these days. Our markets have been dominated by foreigners, and South Sudanese are not in control of their markets," the Chairperson Designate was quoted by The City Review to have said.
“We are supposed to be a mixed economy rather than a free economy. In a free economy, anybody can come and do anything that he wants, but in a mixed economy, we can control the prices," added Mr Yoane.
But it is unclear whether the summon of these institutions will drive a positive impact on the market ahead of festivities.
Between late November and the first week of December, a kilogram of lentils was costing SSP 800 up from 600 a few weeks earlier. Our market survey within Juba also reveals that the price of onions has doubled from SSP500 to SSP1000.
By the time of publishing, a liter of cooking was sold at SSP 1000, an increase from SSP 700 two weeks prior. The cost of public transportation also doubled, especially for those staying on the outskirts of Juba. The trend paints a bleak future for the common man.
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