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Momodou
Denmark
11717 Posts |
 Posted - 26 Sep 2007 : 01:02:55
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Mixed Views on Commodity Prices
By Buboucarr Sowe
Divergent views have been expressed within the business circle on the price reduction on few basic commodities announced recently by some businesses.
Retailers who spoke to Foroyaa claimed that “the reduction in prices does not tally with the depreciation of the dollar and other currencies,” A businessman expressed his view on the pricing mechanism of businesses. He said weeks ago the price of rice might have been D550, equivalent to $20.37. He argued that the same $20.37 is now equivalent to D407.41, which should be the price of rice today.
However, Mr. Tajco, the proprietor of Tajco Company, an importer, told Foroyaa that competition is too high and that they have to reduce prices. He said that they have recently reduced the price from D590 to D445, that the 20 litre cooking oil is from D610 to D450, 100% broken rice from D550 to 495and 25% broken rice from D575 to D525. He added that the price of flour is fixed at D660, but cautioned that subsequent consignments will be more expensive.
Retailers, who buy from importers, told Foroyaa that they are at the losing end of the business. “If you buy at a high price today, you will not make profit because you have to follow the market trend when prices come down the following day,” a retailer said to Foroyaa.
Another said that there are no fixed prices at the market, stressing that just before then he had bought a consignment of sugar at a price of D600 per bag, while he was selling that same consignment at D460 per bag due to unfavourable market trends. The uncertainty in the fluctuation of the dalasi is frightening many members of the business community.
As for the currency market this reporter discovered that some banks are not buying foreign currencies such as the dollar, pound sterling, euro and CFA francs. Some bought these currencies only from account holders.
Source: Foroyaa Newspaper Burning Issue
Issue No. 111/2007, 21 – 23 September 2007
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A clear conscience fears no accusation - proverb from Sierra Leone |
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toubab1020
12311 Posts |
Posted - 26 Sep 2007 : 01:07:19
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And so.............the suffering goes on.........Ad infinitum...................
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"Simple is good" & I strongly dislike politics. You cannot defend the indefensible.
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Edited by - toubab1020 on 26 Sep 2007 01:10:21 |
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kayjatta
2978 Posts |
Posted - 26 Sep 2007 : 06:46:16
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I have a hunch that the appreciation of the dalasi might be artificial, and if that is the case, it is not going to be healthy for the Gambian economy pretty soon. For one thing , it might result in hoarding of goods, decrease flow of remittances, and falling imports. This could ultimately result in a foreign exchange crunch and extreme scarcity of goods in the country.
It looks like the appreciation of the dalasi is already dealing a jittery blow to The Gambian business psyche. Uncertainty and speculation is driving the market on a roller coaster, according to reports from the country.
Unlike Turk ,I do not believe in legislation to fix the problems in the market. I believe the forces of the market will enable the dalasi to finally find its feet... |
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turk
USA
3356 Posts |
Posted - 26 Sep 2007 : 07:36:45
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| ok kayjatta. How about competition law? How about law against monopoly? How about protection of consumer? How about custom laws? How about any commercial laws? How about prostitution laws? Are you anarshist? And most important? HOW ABOUT THE LEGISLATION THAT forces gambians to use DALASI. over to you? |
diaspora! Too many Chiefs and Very Few Indians.
Halifa Salah: PDOIS is however realistic. It is fully aware that the Gambian voters are yet to reach a level of political consciousness that they rely on to vote on the basis of Principles, policies and programmes and practices. |
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kayjatta
2978 Posts |
Posted - 26 Sep 2007 : 07:52:48
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| Turk , you are off the point again. Try to understand the issue first... |
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kayjatta
2978 Posts |
Posted - 26 Sep 2007 : 08:03:27
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| Competition laws and law against monopoly? Did you mean anti-trust laws? Commercial laws or codes such as the Uniform commercial Code (UCC) in the U.S. are meant to create a guideline for a level playing field in the conduct of business transactions within and between different states. It is not meant to fix the problems of demand and supply in the market, got it...? |
Edited by - kayjatta on 26 Sep 2007 08:04:24 |
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turk
USA
3356 Posts |
Posted - 26 Sep 2007 : 08:10:33
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kayjatta
Do you really read what you write?
quote:
Unlike Turk ,I do not believe in legislation to fix the problems in the market
You made ridiculous claimS that I believe in controlled market economy. Than you make another claim that government should not legislate to fix the problems.
You should have said following.
quote:
I do believe in smallest role by government in the market.
However, I still have a lot to say about the following. quote:
I believe the forces of the market will enable the dalasi to finally find its feet...
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diaspora! Too many Chiefs and Very Few Indians.
Halifa Salah: PDOIS is however realistic. It is fully aware that the Gambian voters are yet to reach a level of political consciousness that they rely on to vote on the basis of Principles, policies and programmes and practices. |
Edited by - turk on 26 Sep 2007 08:12:17 |
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kayjatta
2978 Posts |
Posted - 26 Sep 2007 : 08:22:02
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| Turk , I am really sorry if i am confusing you but i am really having fun, i am laughing my heart out here... |
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turk
USA
3356 Posts |
Posted - 26 Sep 2007 : 08:32:09
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Another ideologist seeing liberal economy as ultimate objective. Common mistake by most who read about liberal economy, free market, they like it etc. than you see as the ultimate objective. However, liberal economy is not the objective, or goal. It is a tool. In economics you should not be ideological. You select tool based on reality. I realize that you are a yankee who promotes globalazation, liberal economy, new imperialist neo-con. While they support these values, at the same time yankeestan like to subsidize the agriculture productions, place limitation on import from other countries. But most important, you are promoting liberal economy for gambia which does not fit the nation. Liberal economy is the worst thing gambia should have. As a canadian I do support liberal economy, for Turkey maybe. But for gambia liberal economy is the worst thing possible. For gambia I support big government, especially the system that helps Turkey to grow after the indepent war, or South Korean economic revolotion done after Korean war.
Gambia does not have capital, business class, technology, experience, knowledge, human resources to be liberal economy. For gambia, a system close to bigger government role would be better. Anyway this would require another discussion topic. |
diaspora! Too many Chiefs and Very Few Indians.
Halifa Salah: PDOIS is however realistic. It is fully aware that the Gambian voters are yet to reach a level of political consciousness that they rely on to vote on the basis of Principles, policies and programmes and practices. |
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kayjatta
2978 Posts |
Posted - 26 Sep 2007 : 09:09:52
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| Turk you are a Canadian? You should come watch baseball with me at the Yankee Stadium in New York... |
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turk
USA
3356 Posts |
Posted - 26 Sep 2007 : 10:43:42
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| Yes, I am also canadian. Thanks for your offer but no. I hate baseball. I like NBA, NHL, soccer, rugby. |
diaspora! Too many Chiefs and Very Few Indians.
Halifa Salah: PDOIS is however realistic. It is fully aware that the Gambian voters are yet to reach a level of political consciousness that they rely on to vote on the basis of Principles, policies and programmes and practices. |
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toubab1020
12311 Posts |
Posted - 26 Sep 2007 : 12:00:44
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Canadian with a small "c"  you may as well say Gambian with a small "g"  |
"Simple is good" & I strongly dislike politics. You cannot defend the indefensible.
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turk
USA
3356 Posts |
Posted - 26 Sep 2007 : 12:24:44
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sorry toubab
i missed your point! what is it? |
diaspora! Too many Chiefs and Very Few Indians.
Halifa Salah: PDOIS is however realistic. It is fully aware that the Gambian voters are yet to reach a level of political consciousness that they rely on to vote on the basis of Principles, policies and programmes and practices. |
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toubab1020
12311 Posts |
Posted - 26 Sep 2007 : 18:13:24
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quote:
Originally posted by turk
Yes, I am also canadian. Thanks for your offer but no. I hate baseball. I like NBA, NHL, soccer, rugby.
Look at your posting here I suspect it was a typo because it is usual for one's country to begin with a capital letter,in this case "C" thats all |
"Simple is good" & I strongly dislike politics. You cannot defend the indefensible.
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turk
USA
3356 Posts |
Posted - 27 Sep 2007 : 00:18:20
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| That is true toubab. Country names must start with Capital letter. I usually don't proof reading for my posts here sorry for inconvinients. |
diaspora! Too many Chiefs and Very Few Indians.
Halifa Salah: PDOIS is however realistic. It is fully aware that the Gambian voters are yet to reach a level of political consciousness that they rely on to vote on the basis of Principles, policies and programmes and practices. |
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