Coronavirus: Ghana Union of Traders fear they may soon run out of spare parts, herbal drugs

The Ghana Union of Traders Association (GUTA) has expressed fears that they may run out of stock which they import from China if the spread of the novel coronavirus continues.

Abossey Okai spare parts

The National Organiser of GUTA, Clement Boateng said they import most of the spare parts they sell from China hence the fears.

In an interview with Accra-based Starr FM, he said “things like drugs, spare parts, cloths, and even herbal medicines come from china. So if the situation continues we are going to run out of herbal medicines in this country.”

“Everything is running out of stock and if God does not step in, things will get out of hands. This is likely going to lead to price increases,” he added.

He indicated that Ghanaian traders are now thinking of other routes to import goods because of the virus outbreak does not seem to be reducing in China,

He added that the claim that the stability of the local currency is partly attributable to the outbreak of the disease.

Meanwhile, stocks have fallen globally for a fifth day amid growing concern about the coronavirus outbreak.

In London the FTSE 100 index of the largest, typically multi-national, firms fell 1.1% in early trading, mirroring similar falls on other European markets.

In Asia, Japan’s Nikkei 225 index lost 0.8% and the Hang Seng in Hong Kong fell 0.7%.

Investors have instead been fleeing to safe-haven assets such as gold, the price of which hit $1,650 per ounce on Wednesday – close to the seven-year highs seen earlier this week.

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