Venezuela re-adjusts prices of paddy rice, maize and sunflower

[naaman fletcher]

VHeadline News Editor Patrick J. O'Donoghue reports: Executive Vice President, Elias Jaua has announced an increase in the prices of rice and maize. Speaking in Portuguesa State Jaua confirmed that President Chavez had ordered a readjustment of prices starting September 1.

Paddy rice type A, which currently costs 1.2 bolivares a kilo will now cost 1.85, which is a 29% rise. Paddy rice type B will move from 1.19 bolivares to 1.24.

White maize rises from 0.92 to 1.15 bolivares and yellow maize sees an increase of 28% moving from 0.80 bolivares to 1.02 bolivares.

Vice President Jaua also announced improvements in sunflower cultivation and the price has accordingly risen from 2.10 bolivares a kilo to 2.64 which is an increase of 26% ... production reached a record 70,000 hectares last year, Jaua said, and he expected cultivation to reach 150,000 hectares this year. According to Jaua, the readjustments are aimed at stimulating planting in the north-summer cycle.

A report on Radio Nacional de Venezuela (RNV) indicated that producers are satisfied with the increase.

Jaua maintained that the new prices have been adjusted according to inflation rates and purchasing power of Venezuelan citizens.

http://www.vheadline.com/readnews.asp?id=96556