Local rice prices boil over
By Joyette Mills-Ward
Business Reporter SKNVibes.com
BASSETERRE, St. Kitts –YET another product considered a basic need has seen a recent increase in price as the cost of rice has climbed from EC $1.13 per pound to $1.78.
SKNVibes.com interviewed an official at the government Supply Office who attributed the price hike to ‘a general increase in the price of the commodity on the world market’.
Rice had been sold for EC $113.01 for a 100lb bag up until 28th July but is now being sold for EC $178.66 at the government run Supply Office. This represents a 58% increase in the food item which is categorised as an item in the Basket of Goods that is being price controlled.
SKNVibes.com contacted a local retailer and confirmed the increases in the price of rice on the retail end, however the retail increase is significantly less than the government imposed price hike.
The increase relates to what is commonly referred to as ‘bag rice’ which is imported in 100lb sacks by the government then sold to retailers who in turn weigh and bag the commodity for resale.
One retailer told SKNVibes.com that unlike in the past, consumers had shifted their rice-buying habits, opting to purchase the loose rice instead of pre-packaged foreign brands. ~~Adz:Right~~
“Once ago people referred to bagged rice as ‘dog rice’ but now it can’t stay on the shelves long enough. Even when there are packaged brands on the shelves the consumers are asking for the bagged rice. Sometimes the packaged rice is almost the same in price but persons claim the bagged rice cooks better.
We had no choice but to carry up the price since our suppliers increased the price we have to pay to get it. I don’t think that will affect how much rice people will buy since no matter the price, we will still cook the same amount of rice. We are a rice eating population. Even with the increase rice is still affordable, it’s accessible and it’s easy to prepare,” he posited.
Up until press time SKNVibes.com was not able to procure a comment from any officials in the Ministry of Consumer Affairs.
