CE blames retailers for food price inflation

When questioned by lawmaker Ho Ion Sang over the fact that Macau is currently suffering from an “imported inflation” due to money exchange rates and high prices for consumers, Chui Sai On blamed retailers for setting high market prices.
“Often when we look at the news, it seems that there is a monopoly on the import and wholesale of certain items [which is causing the price inflation]. I have to disagree with that because, in fact, there are huge differences between the wholesale rates and retail prices,” Chui said, attributing the price increase to retailers, adding the example of fresh pork, which costs almost triple the wholesale price when purchased through a retailer.
“The prices in the retail stores are too high and are affecting consumption [by residents],” he concluded.
Ho suggested that “now is a good time for macroeconomic changes,” urging the government to “diversify the sources” of fresh food products and basic essentials.
The CE responded that in order to tackle this problem, the government is “encouraging pluralism in sales,” adding that import channels are open and that in order to protect consumers the government, through the Legal Affairs Bureau (DSAJ), is working on a law to regulate this issue.
Chui concluded by saying that for the supply of the fresh and basic essentials, the territory should be “thankful for the support of mainland China in both quality and quantity.”
Another of the related topics that lawmaker Ho wanted to see clarified was that of the 2014 plan for certain social enterprises to establish a system to sell these “basic essentials” at cheaper prices. On this topic the CE replied that, “for the time being there are no plans to implement this measure,” adding that, “the non-profit organizations think that this plan would require a lot of expense and resources [which they cannot provide].” RM