2023-04-30 17:36:07
- The team of The newspaper toured three shopping points in Caracas to verify the prices of the most important products in the food basket prior to possible announcements on Labor Day
Venezuela is characterized by having a highly distorted economy that is sensitive to the expectations generated by the Nicolás Maduro regime in the market. The possibility of entering a new “recession cycle” as well as the rise in the exchange rate make the cost of living in both bolivars and dollars unsustainable for many families.
Regarding the commemoration of Labor Day on May 1, many Venezuelans expect an eventual increase in the minimum wage, which has been stuck since March 15, 2022 at 130 bolivars (5.2 dollars per month).
If the long-awaited adjustment materializes, it is not ruled out that the entire food marketing and distribution chain will be directly impacted, which causes concern both in the merchant and in the final consumer.
The income of a public administration worker is around 35 dollars (including special bonuses), according to the Venezuelan Finance Observatory (OVF), this amount is insufficient to cover basic food requirements.
In addition, the low purchasing power of a large part of the population has had an impact on the quality and type of product of the basic food basket that Venezuelans can access. In addition to this, the depreciation of the bolivar and the stagnation of wages in the private sector do not improve the forecast in the short term.
In order to know the prices of some essential products, the team of The newspaper took as a reference the eight items that make up the OVF’s Petare Basket.
The products that were part of the measurement were: egg carton, cornmeal, white cheese, meat, corn oil, sugar, whole rice, and ground coffee.
During the tour, three important points of purchase in Caracas were visited and the merchants were consulted about their perspectives prior to a possible announcement of the salary increase.
petare
All shops visited by The newspaper surrounding the Petare vial were supplied with the basic products that make up the measurement. A 30-unit carton of eggs costs between $5.50 and $6, depending on the outlet; while the half carton (15 units) has a price between 2.75 and 3 dollars.
For its part, precooked cornmeal in its 1 kilo presentation can be purchased between 1.40 and 1.50 dollars. Traditional white rice starts from $1.25 to $1.45 depending on the customer’s preferred brand.
In the case of 1-liter corn oil, national and imported brands abound, with the base price being $3.50. A kilo of sugar sells for between 1.50 and 1.65 dollars. Coffee in its cheapest presentations (100 and 200 grams) costs 1.2 and 2 dollars, respectively. The kilo of coffee, depending on the brand, is sold from 12 dollars.
Meat is one of the most expensive products in the survey. The first cuts at $6.99 while the second cuts at $5.50. The cheapest white cheese available in the consulted businesses is Merideño, with a price of $5.69.
In all the places consulted, the prices in foreign currency are adjusted to the official dollar rate established by the Central Bank of Venezuela (BCV). The options that consumers use the most to make their purchases are cash dollars, mobile payments, and debit cards.
A manager of a refrigerator, who preferred to remain anonymous, explained that sales during the first three months of the year were “very weak”, and commented that he doubts that a salary increase will improve people’s real ability to buy more products .
The meat is expensive and it is notorious how many people are consuming less quantity, and not only buy less but also lower the quality. They prefer to take ground beef than a steak because they know that it can serve them better. That is a reality that a salary increase will not change overnight.
Fifth Crespo
In the Quinta Crespo market, coffee is sold between 2.50 and 3.50 per half kilo, depending on the brand; while the kilo of sugar is sold between 1.65 and 1.75 dollars.
The oil in its one liter presentation cost between 4 to 6.40 dollars depending on the origin. Cornmeal is priced at $1.50 in all the stores consulted. On the other hand, the traditional national rice of 1 kilo costs 1.50 dollars.
In this enclosure, they have at least 4 types of white cheeses that are the cheapest, among which the Merideño stands out at 5.60 dollars per kilo, the cottage cheese at 3.20, the palmicón at 6.50 and the Santa Bárbara at $8.50.
When verifying the prices of the meat, it was verified that the first cut is sold at 6 dollars per kilo, while the second is at 5 dollars.
The eggs, in their presentation of 30 units, cost 5 dollars, while the half carton has a cost of 2.5 dollars.
*María Dávila, in charge of a butcher shop in the municipal market, commented that far from being happy about the possibility of an increase, it generates “fear”.
In recent weeks, meat in slaughterhouses has increased and that is why we have been forced to adjust. A salary increase makes everything soar because nobody wants to lose. I am afraid because if people already buy little then they will not buy anything if everything increases, ”he said.
Andres Bello Avenue
The reality of the prices in the Guaicaipuro Market is not very different from the rest of the businesses consulted. For example, corn flour is between 1.30 and 1.40 dollars per kilo; and rice from 1.40 to 1.65 per kilo according to the brand.
Likewise, the liter oil costs 3.60 dollars in its version made in Brazil, which is the most abundant in the places visited. The 200-gram coffee costs $2.70, but its one-kilo version can cost up to $26. The kilo of sugar is between 1.50 and 1.55 dollars.
The cheapest type of white cheese available in these places was hard at $5.50 and Coriano at $6.
Prime meat sells for 6.90 a kilo, and second cuts for $5.90. Ground beef is $4 a kilo.
The eggs are sold under three modalities. The first is the complete carton at $6.25. For its part, the half carton costs $3.13 and the eggs per unit costs $0.21 each.
Laura Fernández, is in charge of a grocery store in the market, and told The newspaper that people do not want an increase that loses value over time.
“What is the use of increasing the salary in a low amount that in the end hurts more in the portfolio and is lost over time. So I think it doesn’t work for you or me. Hopefully this time things will be done well, because it is of no use to me if sales continue to fall and prices to rise”.
The names were changed at the request of the interviewees.
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