The price control for 40 products was ratified by the government. The president of the Economic and Finance Commission of the National Assembly (AN) for 2020, Jesús Faría, told EFE that the administration of Nicolás Maduro has adopted “a set of decisions to establish maximum retail prices in more than 40 products of mass consumption of the population”. Faría, also a former Commerce Minister, said the government remains vigilant against speculation.
The price control for 40 products was ratified by the Government. The president of the Economic and Finance Commission of the National Assembly (AN) for 2020, Jesús Faría, told the news agency EFE that the administration of Nicolás Maduro has adopted “a set of decisions to establish maximum retail prices for more than 40 products for mass consumption by the population.”
Faría, also a former Minister of Commerce, assured that the price control measure was discussed and agreed with producers due to the recent “alteration in price dynamics.” He maintained that this situation alerted the Government, which, he indicated, “is attentive to speculation.”
Likewise, he affirmed that a set of prices were agreed upon that should constitute the ceiling at which the 40 products are sold, “taking into consideration production costs, as well as reasonable profits, as established by law,” he continued.
Faría expects the productive sectors and the actors in the marketing chain to respect these agreements. He insisted that the government that the Executive will do “everything possible” so that these prices are complied with.
The National Superintendency for the Defense of Socioeconomic Rights (Sundde) published on December 1 a list of maximum consumer prices for various food products. The agency later removed the post.
The prices announced through his Twitter account were published in dollars, with the proviso that for his reference in bolivars the exchange rate of the Central Bank of Venezuela (BCV) had to be taken into account.
*Also read: Sundde publishes new price regulation “in dollars” for food products12/01/2022
In this sense, the state entity reported that as a result of dialogue tables with the agri-food productive sector, an agreement was reached to establish the maximum prices for the final consumer in some prioritized items. This, however, accounts for a new price regulation, when the administration of Nicolás Maduro itself has made the control policy more flexible since 2018. The last time the Sundde set maximum prices was in 2020 when 27 food items were regulated.
Among the prices of the products, the following stand out: precooked cornmeal at $1.20 (13.50 bolivars at the December 12 rate of 11.25 Bs./$), wheat flour at $1.30 (Bs. 14.62), pasta at 1.50 dollars (Bs. 16.87), white table rice at 1.20 dollars (Bs. 13.50), refined sugar at 1.25 dollars (Bs. 14.06 ), table salt at 0.5 dollars (Bs. 5.6), edible soybean oil at 3.50 dollars (Bs. 39.37), margarine at 2.15 dollars (Bs. 24.18), mayonnaise at 3.50 dollars (Bs. 39.37), ketchup at 1.65 dollars (Bs. 18.56), canned tuna in oil at 0.62 dollars (Bs. 6.97), beans at 1.30 dollars (Bs. 14.62), lentils for $1.40 (Bs. 15.75), beans for $0.80 (Bs. 9) and peas for $1 (Bs. 11.25).
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