Ministry of Commerce launches move to lower basic food prices

By Daniel D.

The Ministry of Commerce has launched a concerted effort to combat the skyrocketing prices of basic food items following a surge in the cost of living across the country.

This initiative comes after recent reports of price manipulation, particularly in the rice and cooking oil markets.

Prompted by concerns over the rising prices of essential commodities, the Ministry of Commerce initiated a review, soliciting feedback from citizens on which food items they believe should see a reduction in prices.

This call for input was made on Monday, April 29, as the government grappled with the challenge of ensuring affordable access to basic necessities.

Food prices have continued to surge since 2022, when Russia attacked Ukraine. The situation has been worsened by consecutive increases in fuel prices by the government.

Authorities have recently been taking measures to reduce the financial burden on consumers by subsidizing basic foodstuffs like rice and cooking oil.

The challenge has been in getting local traders to respect the official prices set by the government.

According to Mincommerce, the regulated price for a liter of Mayor oil is FCFA 1,100, yet some sellers have been selling it for FCFA 1,500. The prices of rice differ depending on the type of rice and the quantity.

Cameroon recently imported 90,000 metric tons of rice from India, negotiating prices with wholesalers to ensure affordability for consumers.

However, despite these efforts, some shop owners have maintained higher prices, citing the presence of old stock as justification.

This practice of overpricing led the Minister to take decisive action. Price control missions were dispatched to various regions, including Yaounde and Bafousssam, where they confiscated hundreds of bags of rice from vendors who were found to be exploiting consumers with exorbitant prices.

The Ministry took further action against a gas company found to be tampering with the quantity of cooking gas sold in the Cameroonian market.

However, there have been some positive developments in the campaign against unfair pricing.

In the town of Bertoua in the East Region, sellers were commended for adhering to the newly instituted prices for rice and cooking oil, demonstrating that compliance with regulations is achievable.

©Mimi Mefo Info