Government reveals how it faces “runaway” food prices

Santo Domingo, DR

In a meeting with media directors, the Minister of Industry and Commerce and Mipymes (Víctor-Ito-Bisonó) presented a report of prices compiled in various commercial establishments, where a vast difference in prices of primary products is observed between supermarkets themselves and between these and the markets.

To give an example of this disbandment, the price of a pound of onions in supermarkets shows a dispersion of RD$51, with prices ranging from RD$32.4 per pound to RD$79 in the 12 largest supermarkets in the country.

This is regardless of the increase in oil, fuel, and maritime freight price, worldwide.

In the case of the price of chili peppers, the difference detected is RD$15 between supermarkets and RD$11.7 in the markets, while for bananas, it is RD$9 per pound in the markets RD$6.5 in the supermarkets. There is a 19% dispersion in supermarkets prices with the potato pound varied from RD$26 to RD$45 per pound during the first week of March.

An egg was sold from RD$4.7 to RD$7.4, and in the first week of March, it was trading between RD$7 and RD$8 per unit, showing a dispersion of RD$2.7 in supermarkets and RD$1.00 in markets.

In the case of rice, a staple food on the table of Dominicans, the discrepancy detected was RD$5 per pound between supermarkets; and RD$2.4 between markets. A pound of cereal was sold between RD$27 and 32 in supermarkets and between RD$23.3 and RD$25.7 in grocery stores. Regarding the variations of oil and fuel prices, it was explained that the Government assumed the accumulated deficit of RD$1,270 million. The prices of the primary commodities (soybean oil, corn, wheat, fresh chicken, cornflour, pork, wheat flour, and bread) were shown. The impact on freight rates, whose Global Container Freight Index indicates an increase of 118.8% between February 19 and August 28, 2020.

IN POINTS
Report
The meeting also included a summary of the variations in oil, fuel, and hardware prices.

Directors
The meeting was attended by the directors of Listín Diario, Miguel Franjul; of El Día, José Monegro; Diario Libre; Inés Aizpún and of El Nuevo Diario, Persio Maldonado, who is the president of the Dominican Society of Newspapers.

Executives
Also, Alberto Caminero, Telemicro; Roberto Cavada, Telenoticias 11; Albanelly Familia, CDN 37; Nuria Piera, NDigital; Fausto Rosario, Acento; Adalberto Grullón, Teleantillas 2; Héctor Minaya, El Nacional; Rosa Encarnación, Grupo SIN.