Algerian trade minister announces coercive measures against speculators

The Algerian trade minister Mustapha Ben Badda has denied the link of the recent food prices surge, including oil and sugar, with the sudden hike of the basic food products on the international markets, noting that some local economic operators are exploiting this crisis to pressure the government to review some measures that disfavour them

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•  The minister has further added that those operators are upset by the recent stringent measures imposed by the Algerian authorities to regulate the sector, like the use of cheques instead of cash in the payments dully justified by invoices, as well as the recent revisions carried out on the trade registers.
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• He has indicated that the government is resilient to put an end to these practices” If the authorities were enough severe over the 1990s because they were busy fighting terrorism, now they are strong enough to strike back”.
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• The minister has asserted that the cabinet which is due to meet next week, will discuss the appropriate solutions to curb this unreasonable and inexplicable surge of prices through a battery of measures either by limiting the profit margins or to level off the prices.
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• These measures will be followed by punitive ones aimed at fighting speculation and protecting the citizens’ purchasing power.
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• M Ben Badda has revealed that the Algerian authorities have lifted the ban on the export of cereals by-products decided in mid 2009, noting that this initiative is aimed at diversifying the Algerians’ exports apart from hydrocarbons and enable the Algerian operators to consolidate their presence on the international markets.