By NATARIO McKENZIE
Tribune Business Reporter
nmckenzie@tribunemedia.net
Supervalue’s owner says retailers will have to ‘wait and see’ what margins are allowed on the items to be added to the breadbasket list, noting if the low grocery margins are used for such perishable items it could force smaller retailers out of business.
Rupert Roberts believes the move to add more fruits and vegetables to the breadbasket list is a good thing and lauded Health Minister Dr Duane Sands for his efforts.
“What we know is that they are going to put certain produce items on the breadbasket list,” said Mr Roberts. “We don’t have a problem with that but a problem could arise with regards to the margins which could devastate the supermarkets and force the small retailers out of business and our five or six inner city stores if they use the low grocery margins for perishables.”
He added: “There’s no point speculating on the margins. We have to wait and see. We assume they would give us a margin to pay our expenses. If they try to use the grocery margins for perishables it could wipe out the small stores. We would really have to fight that if we don’t get the proper margins but I assume we will. We know the items, we know they intend to price control them but at what margins? Even with margins not everyone is going to sell at the same price and the way things works it could be a 20-30 percent price difference between stores.”
Health Minister Dr Duane Sands during his contribution to the 2019/2020 budget noted that new healthy items will soon be added to the country’s breadbasket item list.
“Specifically, Bahamians can look forward to spinach, broccoli, romaine lettuce, apples, oranges, strawberries, beans, peas, almonds and so much more being not only vat-free, but price protected,” said Dr Sands.
He did not say when the new breadbasket list will come into effect. As of August 1, 2018, VAT was removed from all breadbasket items, except sugar.
Comments
John 4 years, 10 months ago
Government pandering to foreigners again. Reducing tariffs on items Bahamians rarely consume. Out bread basket has been fingered and molested where the substance is for the foreign appetite and not Bahamians. When leaders become blind idiots.
DDK 4 years, 10 months ago
"spinach, broccoli, romaine lettuce, apples, oranges, strawberries, beans, peas, almonds"
Do you really believe Bahamians consume only tinned pigeon peas and corn? This was actually intended for JOHN. My bad!
ohdrap4 4 years, 10 months ago
No I do not believe that.
Bahamians mostly eat vienna sausage, salty, bogna and grits.
If they ate mostly peas and corn they would be much healthier.
bogart 4 years, 10 months ago
ADMIRABLE..!!!!.....THE largest food store chain is concerned about the margins on new breadbasket itrms.....could force small retailers out of business...!!!!!. Hmmmmm...sooooooo..how many small retailers stores ever seen bin selling to begin wid from small couple coolers in small store space.... large amount of perishable fresh fruits and vegetables.....?????.....MR. Roberts...should jus come out an say he difnt wan do it, dats all.
DDK 4 years, 10 months ago
"spinach, broccoli, romaine lettuce, apples, oranges, strawberries, beans, peas, almonds"
Do you really believe Bahamians consume only tinned pigeon peas and corn?
B_I_D___ 4 years, 10 months ago
Price controlled fresh produce and highly perishable items is VERY risky. All too often the local retailer of that produce have massive loses due to product spoilage, and it is the margins they have at the moment that allow that fresh produce to remain on the table as a viable import. If you lock down percentage markups on those items, many retailers will just stop selling the fresh produce altogether and I don't think that is the desired end result behind this initiative.
TalRussell 4 years, 10 months ago
Ma comrades, why is it even living in Colony of Out Islands long recognized as the richest of the Queen's colonies - the number of the populaces struggling buy the most basic of comrade Rupert's food stores items have climbed by 37.5% higher since just May 10, 2017, yes, no............. The Imperialism under which the many are "Not Eating Well" might have lots do the much more financially privileged class, not being made pay their fair share taxes on profits and incomes - preferring levy 12% VAT on lesser working class.............
Sign in to comment
Or login with:
OpenID