| 21 April 2024, Sunday |

Syndicate of Supermarket Owners: “There is no ability to curb chaos and rise in dollar exchange rate!

The President of the Syndicate of Supermarket Owners Nabil Fahd, confirmed that “the change in commodity prices is related to the price regulations set by suppliers. But the supermarket did not receive the new price regulations after the recent surge in the dollar exchange rate so we expect to see changes in prices starting from next Monday.

Bohsali explained to An-Nahar that prices are usually changed 4 to 5 days after importers send price lists to the “supermarkets”, but the fluctuations have become so rapid to an extent that prices rise at the same time with the rise in the dollar exchange rate, and even importing companies have become faster in Introducing new regulations for their prices. Indeed, there are sometimes daily regulations for prices according to exchange rates.”

He added: “With the sharp rise day after day in the price of the dollar, the traders and retailers are no longer waiting for the supplier’s regulations, but rather adjusting the prices automatically to cover the exchange rate difference, and this is unfortunate.”

Bohsali believes that “there is no control for what’s happening anymore, and it is true that it started months ago, but there were commodities that were still subsidized at the time, but now, there is no ability to curb this chaos and the rise in the price of the dollar, amid the absence of the state.”

  • Sawt Beirut International