Arguing that there are justified reasons to increase the price of pile of rice, in Costa Rica the Alvarado administration authorized a 1.9% increase in the final price to the consumer.
With the increase decreed by the Ministry of Economy, Industry and Commerce (MEIC), the price per kilo will rise from $1.06 to $1.08, for the variety with 20% broken grain, also known as 80/20.
In Costa Rica, the Supreme Court has rejected an appeal of unconstitutionality against the prohibition imposed by the government on carrying out promotions in the rice retail trade.
The argument put forward by the magistrates when rejecting the appeal of unconstitutionality filed by Corporación de Supermercados Unidos (Walmart) was based on the fact that"...
Instead of liberalizing the price of grain from 2015, the government is considering implementing a gradual deregulation scheme.
In order for the local price of rice to approach the international price, the Costa Rican authorities will substitute, in the first weeks of next year, the decree liberalizing the price of rice and look for "... Another decree which contains a process that allows the price of rice to reach similar (international) levels . "
Rice producers fear not being able to sell their rice harvest because of the entry of rice from countries such as Argentina, Brazil and Uruguay at much lower prices than local ones.
"At great risk are 60,000 hectares of rice, for which there is no known market for this production because Costa Rica is being invaded by milled rice imports from southern countries (Argentina and Uruguay)," said the new President of the National Assembly of Rice Producers, Domingo González. "
The National Rice Corporation and the Government have agreed to move towards an alternative to the price fixing scheme.
"It was also decided to establish a process of transition to manage the market and increase productivity in the sector, which should be ready this week," reported Elfinancierocr.com.
The agreement came after the results of the study entitled "Current Mechanism for the estimation and identification of rice prices under the context of the marketing chain," conducted by the Institute of Economics at the University of Costa Rica (UCR) , which indicates that currently, price fixing does not take into account various aspects of the reality of the national and international market.
With the intention of benefiting producers and consumers, and achieving better crop yields, in Costa Rica the price of rice is fixed by law.
According to an article in Nacion.com "a study by the Institute for Research in Economics (ICSI), at the University of Costa Rica, which was requested by the Ministry of Economy, Industry and Commerce (MEIC)." states that "the law fixing the price of rice will not benefit either the consumer or the producer, as intended by the measure, nor will it promote better returns."
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