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"... that type of promotion undermines the measure on price fixing. These are commercial practices that tend to evade or circumvent such pricing, the ruling said."
In Costa Rica the Solis administration intends to keep the current pricing scheme for rice, ignoring technical criteria, and without applying any valid economic justification.
EDITORIAL
Although atechnical study commissioned by the Ministry of Economyitself said that the current regulatory pricing scheme does nothing to improve the productivity of rice farmers or to lower final prices, the government of Luis Guillermo Solis insists on maintaining a practice which favors a few, blocks competition on an equal footing and hurts consumers.
Days after the Brazilian government noted that the additional duty of 6.82% violated the WTO anti-dumping agreement, the Solis administration has reduced it by half.
The Ministry of Economy partially upheld the appeal filed by the sugarimporter Maquila Lama and decreased the additional tariff to 3.67%, on top of the 46% already paid on sugar imported from Brazil.
The Brazilian government claims that the 6,8% increase in the tax on sugar imports from the south american country is in violation of a WTO anti-dumping agreement.
The National Insurance Institute has announced it will modify two regulations so that non irrigated rice crops can once again receive coverage which was suspended earlier this year.
Rice farmers who grow grain on unirrigated land may be eligible sometime before March to be covered by the National Insurance Institute (INS) which suspended coverage earlier this year. The state run company sought to protect itself in the face of losses of up to $4 million caused by a high claim rate in 2015 for those crops.
The importing company Maquila Lama claims that proposal to reform the rules on sugar fortification is an attempt to restrict imports of the grain.
The company Maquila Lama is opposed to the decree which is aiming to amend a regulation on sugar fortification promoted by the Ministry of Health, arguing that besides being discriminatory, it could restrict imports of the product from Brazil and any other country of origin.
Running counter to a recommendation from the OECD to strengthen the independence and resources of work by the bodies that oversee competition, the Ministry of Finance will be intervening in the Commission's own tasks.
An article on Crhoy.com reports that "... A restructuration managed from the office of the Minister of Economy, Welmer Ramos, has resulted in the temporary disintegration of the Commission for the Promotion of Competition (COPROCOM) from 1 July. "
Gross inconsistencies in the labeling of bags of cement are rocking the boat again in a market convulsed by the importation of products from China.
Complaints have been made about the differences in the use by dates recommended on the product misleading consumers, causing questions to be raised by other cement sellers.
Six financial institutions have been authorized to provide loans under the conditions imposed by the Development Bank, with interest rates of 3% in dollars and in line with the passive base rate in colones.
Welmer Ramos, chairman of the Governing Board of the Development Banking System commented that "... 'These programs involve interest rates that are half the rates that currently exist for the same activities.'"
In April 2013 the credit card portfolio in the country grew at a rate of 24%, well above the 10% growth recorded in the same month this year.
The slowdown in economic activity, greater awareness in the use of debt and changes in the regulations requiring risk ratings from the banking system are some of the reasons behind the decline in the growth rate of the number of plastic cards circulating in the country.
Costa Rican importers of cement from China have received the technical approval for its sale, and announced that it will be sold just over $10 per 50 kilo bag.
The Ministry of Economy, Industry and Commerce (MEIC) authorized the sale in Costa Rica of Chinese cement of the brand Sinocem arguing that "... there is no objection to the use of that product and it does not compromise the safety of persons."
Businessmen in Costa Rica recognize the progress made by the government, but are calling for an acceleration in the process to eliminate the duplication of paperwork which still prevails in several institutions.
Currently we have a clear agenda to deal with the Ministry of Agriculture and the Ministry of Economy, Trade and Industry regarding outstanding issues and the reduction in the number of requirements for starting a business and those for established businesses.
72% of the credit and debit cards circulating in the country have interest rates in colones ranging from between 40% and 50%, while the default interest varies from 24% to 65%.
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