Retailers engage in exorbitant increases on rice price

Under the pretext of the readjustment of fuel prices at the pump last June 30, some merchants have made exorbitant increases on the price of rice. Faced with this situation, the Group of importers of rice, Cameroon (ICAM) responded, via a press release signed on August 1. In this document, they decline any liability as regards speculative manoeuvres from certain 'opportunistic retailers'.

ICAM which consists of: Soacam, Olamcam, Cimed, Sotracodim and Sorepco, in line with commitments to the Government and the associations for the defence of the rights of consumers revealed that rice prices remain unchanged.

In the markets, members of the ICAM keeps prices intact i.e. 14 000 F for the variety white rice long grain of 50 kg and 7000 F for 25 kg sack. At the Mvog-Mbi market, for example, the prices charged by some traders oscillate between 16,000 and 17,000 f. "our wholesalers have made us understand that the price of a bag has increased 500 f and that this increase is also charged ".

Since then, 25 kg Thai rice which was sold at 9000 F now costs 9500 F and we are forced to sell it to 10 000 F, in order to have a profit," says Evelyne N., Manager of a shop. And to add that the Soacam products remain unchanged.

"Price per bag of 25 kg rice, Uncle Ben's distributed by Soacam remains at 17 000 F including Neima where 25 kg bag is maintained at F 8 300", reassures the young lady. But in this same market, the cost of the variety of rice Neima 25 kg fluctuates between 9500 and 9 800 F and one 50 kg bag amounts to 18 500 F.

Most retailers met in Yaoundé markets admit that practical amounts are based on those charged by wholesalers. "Some say it's when old stocks are exhausted that the prices will be increased. Others revealed however that price have gone up by 500 F and this force them to raise their own prices in order to make gain.