Sugar price doesn't exceed 35 Dinars on world market and the Algerian consumers are the victims of frenzied speculators
Saudi economic and financial expert, Nourredine Laguil, has asserted that the imported basic commodities including sugar and cooking oil are the target of a frenzied speculation spurred by certain venal lobbies which exert a tight monopoly on the market.
- He indicated that the price of a kilogram of sugar on the world market was currently set at 0.6 dollar or the equivalent of 35 Algerian dinars.
- He discounted in this connection the vain arguments put forth by certain importers who argue that the price of such a basic commodity had increased on the international markets.
- He also wondered why the price of sugar had not plummeted in Algeria in line with the marked drop in prices witnessed on the world market.
- The Saudi economic and financial expert stressed that given these stark figures, the price of sugar should not normally exceed 70 dinars a kilogram on the Algerian market even if the relevant authorities imposed on the producers and the wholesalers and the like 100% of taxes and duties on the sugar product, he said.
- He pointed out that the nefarious cycle of unstable prices on the Algerian market was mainly the outcome of the gross lack of transparency and the overall anarchy besetting the national market.