Discounts and offers, increase in the price level generally and the rise in operating costs due to new health and safety protocols are the main threats to the profitability of companies in this new commercial reality.
Given this context of economic and health crisis, which derives from the outbreak of covid-19 at the global level, Ariel Baños, a specialist in price management and founder of Fijaciondeprecios.com, explains what are the main threats that could affect the profitability levels of companies, and details some strategies that could be applied to mitigate the adverse effects.
In Costa Rica, exporters insist that rates be renegotiated at the Moin Container Terminal, since currently the cost of moving a container at that terminal exceeds by about $207 what was paid at the Japdeva docks.
To effectively apply data analysis tools on a large scale, the proper structuring of the information is essential, otherwise the cost that the company will have to incur to reverse the errors will be very high.
Data governance, which encompasses the set of processes, functions, policies, standards and measurements that ensure the effective and efficient use of information, becomes relevant to enterprises, which increasingly benefit from the use of machine learning tools and statistical analysis.
Costa Rican businessmen are opposed to the bill that gives Icafé the authority to impose requirements and controls on the processes of supplying the raw material necessary for grain production.
In the current period, the Legislative Assembly plans to discuss bill 21.163, which aims to transform the powers of the Costa Rican Coffee Institute (Icafé), but the business sector anticipates that the proposed modifications will lead to a rise in the prices of the product.
Because of factors such as business closures and lack of opportunities, it is estimated that criminal activity costs Honduras and El Salvador 16% of GDP, and in the case of Guatemala, its losses could amount to 7% of its production.
In Central America, the human costs of crime remain one of the highest in the world. El Salvador, Guatemala, and Honduras—referred to as the Northern Triangle— account for about four-and-a-half percent of homicides worldwide despite only having about one-half-percent of the world's population.
The Panama Chamber of Commerce requested the Panama Canal Authority to postpone the start of collection of the fee for the use of fresh water in the Canal, which would begin to be paid on February 15, 2020.
Between January 15 and April 14, 2020, the electricity tariff will decrease by an average of 5% compared to the price reported in the previous quarter.
The contribution of renewable energy registered a significant increase in the system, reaching 67% of the injections in the Wholesale Market in the last quarter, while in the previous quarter it was only 46%, being this the main reason behind the reduction in the tariffs.
As a result of the tax reform implemented in February 2019, at the beginning of 2020 the prices of beverages increased, mainly soft drinks sold in plastic containers.
In February of last year, the Ortega regime approved the reform of the Tax Agreement Law, which consisted of increasing income tax from 1% to 2% for medium sized companies with higher incomes, and from 1% to 3% for large taxpayers.
Convincing the sales team that the increase in the price of the product is necessary, and that they are able to convey the message to customers correctly, is essential when it comes to increasing prices when production costs rise.
Ariel Banos, specialist in price management and founder of Fijaciondeprecios.com, explains five strategies to increase product prices successfully, maintaining profitability and ensuring the viability of the company in the face of rising costs.
Given the increase in port charges announced for 2020 and the high cost of aviation fuel, concern is growing among the airlines that use Costa Rica's Juan Santamaria airport.
According to a statement from the International Air Transport Association (IATA), Aeris, airport operator of the Juan Santamaria terminal, has confirmed that the rates will have a significant increase next year, because recent investments will be depreciated quickly to coincide with the expiration of the management contract in 2026.
The high energy tariffs paid in Costa Rica compared to other countries in the region and the effects of the monopoly that exists in electricity generation are threats to the local economy and future investments.
Between October 15, 2019 and January 14, 2020, the electricity tariff will decrease 5% on average with respect to the price reported in the previous quarter.
The new average price per MW hour (MWh) is $134.95, which is 5.16% lower than the one reported last quarter when it reached $143.84 MWh, informed the General Superintendence of Electricity and Telecommunications (SIGET).
In the country, the business sector expects an increase in operating costs in the coming months, as a result of the expected increase in the price of electricity in the short term.
Retention of raw materials by the authorities of Customs and charges to businessmen by the mayors, are some of the problems that are affecting industrial companies in Nicaragua, in addition to the crisis and the rise in taxes.
Directors of the Chamber of Industries of Nicaragua (Cadin) reported that companies in the packaging, beverage and dairy industries are the most affected by the withholding of inputs made by the General Directorate of Customs (DGA).
From 2020 onwards, the fuel used by ships worldwide should not exceed 0.5% sulphur concentration, forcing transporters to consume higher priced fuels, which could become even more expensive because of increased demand.
From January 1, 2020, the concentration of sulphur in the fuel consumed by maritime transport vessels must not exceed 0.5%, a limit that until now was at 3.5%.
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