NASSAU, BAHAMAS — Super Value’s chief financial officer Debra Symonette said yesterday that the food store chain is doing its best to keep the price of goods affordable for local consumers amid rising global inflation, while noting, “it could be worse”.
Symonette said: “The increases are absolutely necessary. We are doing our best to keep prices at a minimum. This is a worldwide thing, it’s not just isolated to The Bahamas. We are doing our best to keep the prices low. It could be worse. We are trying to stock up on goods at lower prices so that we can keep the prices low in the store.”
Symonette said that consumers could expect to see price increases in tomato-based products, rice, sugar, flour, and cooking oil while noting that supply chain issues persist.
Super Vaue’s perishable buyer Clifton Fernander noted that consumers could also expect increases in the cost of meat and poultry.
“Over the past weeks we have seen an increase in the cost of pork and lamb. This year customers should be prepared to experience a 30-40 percent increase in the price of hams and turkeys. Production from the farms has been much lower this year but the demand is still the same,” said Fernander.
Fernander noted that the government’s decision to reduce the duty on chicken imports has allowed the food store chain to keep prices stable and reduce prices in some instances.
