BY: Dr. Hana Saada
ALGIERS- During an inspection visit to various businesses in Algiers on Wednesday, Minister of Trade Mr. Tayeb Zitouni addressed the recent surge in banana prices in the national market.
According to Mr. Zitouni, this price increase is unjustified, especially considering that the prices of bananas do not exceed 0.5 dollars on the global market: “We have calculated the cost price of this product plus the margins, and it should not exceed 200 Algerian Dinars,” he stated. He also assured that laws against speculation would be enforced: “We will take action and enforce the law to hold those responsible for this increase accountable,” he added.
Furthermore, he highlighted: “We have focused our efforts on other products, which is why some have taken advantage of the situation and increased the prices of this product, now sold at 470 Algerian Dinars per kilogram in the wholesale market.”
The Minister of Trade urged his department to react promptly and ordered the seizure of goods displayed at exorbitant prices: “This is an instruction, in every store where the price is displayed at this rate, you proceed with the seizure, and the traceability of this product must be followed… It is speculation, and we will take action,” he declared.
Mr. Zitouni’s intervention underscores the government’s commitment to ensuring fair pricing practices and protecting consumers from exploitation in the marketplace. His directive to clamp down on unjustified price hikes reflects the government’s proactive stance against economic imbalances and aims to maintain affordability for essential goods such as bananas.
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