HODEIDA July 07. 2024 (Saba) - A meeting at the Office of Industry and Trade in Hodeida Province, with merchants importing foodstuffs, discussed the supply situation, commodity stocks, and the extent of price stability.
The meeting reviewed the current prices of cooking oil , sugar and the reasons why some importers raised their prices, stressed the importance of adhering to the internal trade law and not introducing any increase in prices without consulting the Ministry of Industry.
At the meeting, the Director General of Industry in the province, Saleh Muhammad, stressed the importance of providing the market’s needs for oils , sugar at competitive prices as they are basic commodities, noting the role of the private sector and the steadfastness of merchants in light of the exceptional circumstances.
While the importing merchants pointed to the inspection procedures that took place in the port of Djibouti during the previous period, which led to the accumulation of quantities and then their arrival at the port of Hodeida, which forced some merchants to reduce prices and sell at less than the cost price in order to fulfill the obligations they have due to the fact that the quantities offered are large.
The meeting approved assigning field committees from the Industry Office to monitor the extent of price compliance, submit monitoring reports on prevailing prices, and control any attempt to monopolize or manipulate prices.
J.A
resource : SABA
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