Sardine Prices Tumble Below 300 DZD Amid Government Crackdown on Market Manipulation

✏️ BY: Dr. Hana Saada

Algiers, Algeria | September 4th, 2024 — In a swift response to rising sardine prices, the Algerian government’s recent intervention has driven prices down to under 300 DZD per kilogram. This dramatic decline follows a stern warning from the Minister of Trade and Export Promotion, Tayeb Zitouni, who on September 1st threatened to import sardines to counteract the sharp price hikes.

Minister Zitouni’s speech addressed the nation’s incredulity over potentially needing to import sardines—a fish abundant in Algeria’s waters yet recently priced out of reach for many. Sardine prices had soared to between 900 and 1700 DZD per kilogram, rendering them unaffordable for the average Algerian family. Zitouni’s message to market manipulators was unequivocal: “We will not hesitate to break the monopolists.”

This declaration was aimed squarely at those hoarding and artificially inflating sardine prices. Zitouni hinted at emulating the government’s previous successful intervention in the poultry market, which had similarly been plagued by price manipulation. “While we aim to protect the interests of our fishermen,” he emphasized, “we cannot condone the exploitation of consumers. Sardines are a basic food source, particularly for the less privileged. Prices as high as 900 DZD per kilogram are beyond the reach of the poor.” He also issued a stark warning: “Do not compel us to take further action.”

This crackdown is part of a broader initiative led by President Abdelmadjid Tebboune, focused on safeguarding citizens’ purchasing power and combating market exploitation. The administration is resolute in its efforts to curtail the greed of speculators who manipulate essential goods for profit.

Complementing these measures, Ahmed Badani, the Minister of Fisheries and Fishery Products, announced the impending importation of 200 tons of sardines from Tunisia. This import is intended to alleviate domestic supply shortages and stabilize the sardine market, with further shipments expected if necessary.

The unprecedented spike in sardine prices, reaching up to 1500 DZD per kilogram in some regions, was particularly alarming given that it occurred during peak sardine season in the spring and summer months. This surge was a clear sign of speculative manipulation by market players seeking to maximize profits at the expense of consumers.

Mustapha Zebdi, President of the Consumer Protection Association, reiterated his stance against the ongoing price gouging, insisting that the only effective remedy lies in strict legal enforcement and continued sardine imports to disrupt the monopolists’ control over the market.

In a remarkable turn of events, sardine prices have plummeted following a significant influx of supplies at major ports along the Algerian coast, including Tipaza, Boumerdès, and Ain Témouchent. Currently, sardine prices for consumers range between 300 and 400 DZD per kilogram, with some areas reporting prices as low as 250 DZD.

This rapid and significant price reduction has provided much-needed financial relief to Algerian consumers, especially those from lower-income brackets who were hardest hit by the recent price surges. The government’s decisive action against market manipulation has sent a powerful message: the exploitation of essential goods will not be tolerated, and consumer protection remains a top priority.

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