Commodity Trading on the International Market-SMB to continue anchoring prices |11 January 2008

The price list will become effective 21st January 2008.

SMB is undergoing reorganization to become the Seychelles Trading Company.
According to managing director Patrick Vel, SMB and its succeeding trading body would continue to anchor prices of commodities. The pricing structure will be designed to sell the commodities at prices that are affordable and fair.

“SMB’s prices will be the benchmark for comparison in the retailing of goods. SMB’s prices can be used by consumers as the reference for affordability and fairness when they are shopping around,” said Mr Vel.

The prices will be reviewed every three months to reflect costs on the international market and local factors.
Mr Vel explained that the prices could remain the same, and either go up or down, depending on cif value (cost, insurance and freight landed in Seychelles).

Consumers in Seychelles will now have to get used to fluctuating prices.
The retail prices on several goods imported by SMB and on some items produced locally remained unchanged for many years although the prices on the international market have gone up considerably.

Commodities such as powdered milk, other dairy products, rice, wheat flour, potatoes and maize -- the last one which is used in the production of animal feeds -- now cost more to import.    

Government has been granting SMB up to R48 million a year in the form of subvention to cover the higher costs of imports. 

The future Seychelles Trading Company will also be engaged in guaranteeing the import of basic commodities, and in some areas of production identified as non-priority for privatization.

Construction material

Bodco’s masonite

Of three importers contacted, Bodco is the trading company selling the cheapest masonite.
It sells masonite, popular in Seychelles for ceiling, at R86 a sheet.
The price is compared to R95 at P & J Providence, and R145 (for a ¾ mm sheet) at Hissen Ah-Hoye, Mont Fleuri. 

Fuel Prices

As at 10th  January 2008

Petrol (Bennzin)     R 5.21    a litre cif

Diesel                     R 5.80    a litre cif