Businesses, grocery stores, butcher shops, and pharmacies in Caracas are gradually resuming operations this Monday, according to reports from the National Association of Supermarkets and Self-Service Stores of Venezuela (ANSA).

Commercial activity in the Venezuelan capital is concentrated in popular or high-traffic areas, “while in various parts of the city, the search for victims and the removal of debris continue after the double earthquake on Wednesday, June 24.”

Some businesses suffered structural damage, so assessment and repairs are expected so that they can soon offer their services with the appropriate safety measures.

Among the shopping centers also affected by the earthquakes are “Lido (Chacaíto), San Martín, and Galerías Ávila (Candelaria). Others, such as El Recreo Shopping Center and the Sambil chain, specifically the one in Candelaria, suffered some masonry damage, although they have remained open during these five days.”

According to a preliminary report from the United Nations Development Programme (UNDP), “the earthquakes caused direct physical damage of US$6.7 billion, driven by losses in housing and economic assets, which is equivalent to 6% of the gross domestic product (GDP).”

M.Pino

Source: talcualdigital

(Reference image source: NUR ALISHA SUDAR SONO on Unsplash)

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La entrada Businesses in Caracas gradually resume operations apareció primero en Bitfinance.

Last week, Ítalo Atencio, president of the National Association of Supermarkets and Self-Service Stores, indicated that a decrease in product prices on store shelves is expected in the short term due to the decline in the value of the unofficial dollar, which has fallen from an average of 900 to 400 bolivars.

Atencio said, “Prices are going to go down, that’s for sure,” adding that “the cost structure naturally adjusts to the exchange rate,” although he clarified that it’s not an instantaneous process, as it depends on inventory replenishment and agreements with suppliers.

According to ANSA, “domestic competition and a commitment to the end consumer are forcing businesses to reflect the drop in the foreign currency on product labels to maintain sales volume.”

Atencio referred to transparency in price marking as a fundamental aspect in this stage of economic transition. He emphasized the commitment of supermarkets affiliated with the association to ensure that the benefits of the inflow of foreign currency and the revaluation of the bolivar “reach the pockets of citizens directly.”

M.Pino

Source: alnavio

(Reference image source: Marjan Blan on Unsplash)

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La entrada ANSA predicts price reductions following dollar drop apareció primero en Bitfinance.

The Government of Argentina announced that the country’s supermarkets must lower the prices of 580 products to the value they had on March 10 due to “unjustifiable increases.”

The decision was adopted by the Ministry of Internal Trade, after a meeting with representatives of the Association of United Supermarkets (ASU) and the main companies that produce mass consumer goods.

The Secretary in charge of Roberto Feletti explained that the decision has been taken due to higher increases in several products, which also alerted the Ministry of Productive Development and led to joint action by the two entities.

According to the Government, the chains that have presented a higher level of price increases have been Walmart/Changomas and Cencosud.

The Ministry of Commerce has advanced that if there are non-compliances, fines and sanctions will be applied, and has assured that it can apply the supply law.

K. Tovar

Source: Swissinfo

La entrada Argentina regulates prices of 580 market products apareció primero en Bitfinance.