Oil Prices Down - Food Prices Still Up

[bkkjames]

Just been reading that the price of oil is down 40+% compared to its high a month ago.

If we all remember this was the justification for all things inflation - including food items.

Now that the price of oil had dropped, will we see an appropriate reduction in prices at our local food stores?

I say let's shame the shameless and demand lower prices!!

Who is the worst offender? Villa, Tops, Foodland, Big C, Carrefour, Lotus.

[JohnBKKK]

Just been reading that the price of oil is down 40+% compared to its high a month ago.

If we all remember this was the justification for all things inflation - including food items.

Now that the price of oil had dropped, will we see an appropriate reduction in prices at our local food stores?

I say let's shame the shameless and demand lower prices!!

Who is the worst offender? Villa, Tops, Foodland, Big C, Carrefour, Lotus.

Hi James,

most of the products you find in supermarkets these days are "on consignment" which means the supplier dictates the price and the market takes a comission of usually 30+%

The problem is more with the producers of raw materials - what possible reason can there be that a 4 Gallon can of cooking oil that used to cost B 480.00 a year ago is now B 1,400.00 ??

Butter is still way up from what it used to be

Pork used to be B 70.00 and is still B 98.00

and so on ...... all those price rises have in reality very little to do with the price of oil

The world bank has blamed our Muppets (aka politicians) causing a world wide rise in food prices by boosting the production of so called bio-fuel which as it turnes out is actually more harmful to the environment than diesel if one considers the amount of fertilisers needed and subsequent polution ....... but all this has caused farmers to switch to biofuel crop for higher financial yield and causes a shortage of food products/raw materials - add to this the increasing demand of China of dairy and other food items, we are now in deep 'kimchi" as one would say - the reason why cooking oil has become so expensive here is partly greed but also that the muppets here like to copy what the Muppets in the west do and have also subsidised bio-fule crops ... and the use of for example Palmoil for bio-fuel production ...... less oil for food production .. higher prices and since with cooking oil the increase is gigantic, it has its effect on a lot of food products ... the same accounts for butter meat etc...

And the game goes on......

John

[dotcom]

Food prices will never come down. Inflation is a one way street.