Algeria: Minister of Commerce threatens Sanctions for High Banana Prices


During a visit to Algiers at the end of the Holy Month of Ramadan and on the first day of Eid al-Fitr, the Minister of Commerce, Tayeb Zitouni, expressed dissatisfaction with the soaring prices, particularly of bananas. Indeed, he voiced his discontent about the recent increase in banana prices on the national market. Zitouni emphasized that this increase is unjustified, especially considering global prices do not exceed 0.5 dollars.

According to him, the cost of this product, including margins, should be at most 200 DA. The Minister of Commerce affirmed the Government's determination to fight the speculation fueling this increase, ensuring the rigorous application of the law to punish those responsible. He stated, "We will act and apply the law to prosecute those responsible for this increase." The minister also warned against speculative practices that harm price stability and consumer satisfaction.

Tayeb Zitouni justified the price increase by refocusing efforts on other products, thus leaving an opening for speculation on bananas. He laments that some traders have used this situation to increase prices exponentially.

In response to this situation, Zitouni urged his services to react quickly, ordering the seizure of goods sold at exorbitant prices and calling for strict product traceability. In this regard, he declared, "This is an instruction, at each business where the price is displayed at this rate, you proceed to seize, and you must follow the traceability of this product, this is speculation, and we will act." The Minister of Commerce's statement reflects the Government's will to fight speculation and ensure fair prices for consumers. It highlights the challenges encountered in market regulation and calls for concerted action to ensure the country's economic stability.