Sugar remains very scarce in all outlets and is not expected to increase in
supply any time soon.
There is every indication that all price controlled products are in
short supply and will remain so until the price regime is corrected to
provide for present inflation trends. Cooking oil is virtually unobtainable, fats
are also in short supply. Bread is now being sold for half its real cost
and problems will emerge in this sector in the near future.
It is understood that a complete freeze on all prices and wages is
about to be implemented (perhaps from the begining of March) and this will throw
the entire economy into chaos as none of the issues that underpin present
inflation trends has been addressed. Coming on top of the decision to
continue looting the export sector through low official exchange rates
(this tax now costs the private sector more than PAYE and VAT combined) the
decision to impose a complete price and wage freeze will plunge the
economy into a new and unparalleled crisis.
Eddie Cross
6th February
6.2.2007
0:00
Price Controls (6-2-07)
It should be noted that despite the decision to allow sugar producers
to raise the price of sugar by over 100 per cent, sugar producers are
still restricting supplies of sugar to the market. They are maintaining
supplies to essential industrial users but not to retailers and wholesalers.
to raise the price of sugar by over 100 per cent, sugar producers are
still restricting supplies of sugar to the market. They are maintaining
supplies to essential industrial users but not to retailers and wholesalers.