The Minister of Industry and Commerce, Fredi Cerrato, said yesterday that "The Consumer Protection Law authorizes price freezes by means of a Ministry Resolution, and that the freeze applies to the maximum price."
The Executive Director of the Honduran Private Company Council (HPCC), Benjamin Bogran, remembers the price freeze decreed when Hurricane Mitch destroyed national agriculture.
The Government looks to extend the decree which froze prices of basic goods until January 19, 2011.
The head of the Ministry of Industry and Commerce (SIC), Juan José Cruz, said he had evidence that price speculation in the Honduran market is still present, so he does not rule out the extension of the decree," reports Digital Process.
Congress passed a decree freezing the prices of 33 basic food products.
Corn is not included in the resolution because there is an agreement between producers and manufacturers, which determines the pricing mechanism.
"The decree shall enter into force for a period of 60 days upon publication in the Official newspaper, setting the maximum selling prices of 33 products which make up the basic consumption needs," reports Latribuna.hn.
Twelve of the most important agroindustrial companies in the country have committed to a price freeze on their products.
The measure will apply for 30 days from October 24, it was reported by authorities from the Honduran Council of Private Companies, Cohep.
"Private companies in Honduras, in light of the emergency cause by the recent tropical storm that has affected the country, have joined up in solidarity with the general population and have announced that the product brand mentioned herein will have undergo a price freeze," according to an official press release.
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