Sunday, Aug 25, 2019
HomeBusinessTabled price control regulations outline allotted prices of breadbasket items

Tabled price control regulations outline allotted prices of breadbasket items

The government has moved toward changing the cap on wholesale and retail prices for several breadbasket items including butter, corned beef, margarine, mayonnaise, cooking oil, flour and rice.

The Price Control (General) (Amendment) Regulations, 2019 were tabled in the House of Assembly on Wednesday, which outlines the description, brand and price per allotted package size of several breadbasket items.

For example, the price of Caribbean Choice corned beef is expected to be capped at $43.19 per case for wholesale selling, and $2.21 and 2.34 per 12 ounce can for retail selling in New Providence/Grand Bahama and the Family Islands.

Whereas a case of Land O’Lakes butter containing 18 one-pound packages is expected to be capped at $86.58 per case for wholesale selling, and $5.92 and $6.14 per pound for retailing selling.

The price of parboiled rice (Alberto brand) is to be capped at $3.85 and 4.23 per five-pound package, while a regular 15-ounce jar of mayonnaise (Kraft brand) is to be capped at $2.51 and $2.76 for retail selling.

The current breadbasket includes butter, margarine, cooking oil, mayonnaise, mustard, corned beef, canned meats, canned soups, broths, evaporated milk, condensed milk, fresh milk, cheese, eggs, rice, flour, grits, baby cereal, baby formula, baby food and bread.

Last year the Ministry of Health released the National Breadbasket Review Forum Report and Recommendations, proposing the the removal of margarine, mayonnaise, corned beef, canned meats, canned soups, broths and condensed milk, which are food items widely believed to contribute to the country’s high level of chronic non-communicable diseases.

In November Minister of Health Dr. Duane Sands said a revised national breadbasket containing healthier options would be implemented at the start of 2019.

Paige McCartney

Business Reporter at The Nassau Guardian
Paige joined The Nassau Guardian in 2010 as a television news reporter and anchor. She has covered countless political and social events that have impacted the lives of Bahamians and changed the trajectory of The Bahamas.
Paige started working as a business reporter in August 2016.
Education: Palm Beach Atlantic University in 2006 with a BA in Radio and Television News
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