Public Meeting On Bermuda’s Food Prices

The Price Control Commission is hosting its first public meeting at on Tuesday March 20, at St. Paul’s AME Church Hall in Hamilton at 7.00 p.m. The theme will be ‘Bermuda has high food prices – Fact Or Fiction’.

According to the Commission, the primary objective is to invite feedback from consumers and the public about their experiences and concerns when purchasing essential goods and services in Bermuda. A secondary objective is to share some of the information that the Commission has obtained from other stakeholders.

The meeting will use a panel format whereby the panelists will provide brief introductory comments. They will then invite questions and comments from the audience.

The Commission emphasizes that the meeting is “not an opportunity to provide unsubstantiated accusations. Instead, it is seeking to have a meaningful exchange of information.”

A Commission spokesperson said today, “We also encourage the public to come with written questions and comments if they prefer, for direct submission to the Commission. We will use the information to support our final report to the Minister of Finance.

“Our panelists for the evening will include Giorgio Zanol from Lindos, Ed Sousa from Butterfield and Vallis, Claudette Fleming from Age Concern, a guest economist and our Chair, Lucia Peniston. Anthony Richardson will act as moderator.”

The Price Control Commission was appointed by Premier Paula Cox under the authority of the Price Commission Act 1974 in response to global price increases of food staples. The appointments were effective from July 2011.

The Commission is supported administratively by staff of the Ministry of Finance. The Commission has completed certain research and met with various stakeholders thus far.

The mandate of the Commission is for all essential goods and services but we have limited our focus to essential foods in the first instance. The terms of reference for the Commission include:

1) Obtaining the relevant economic data from the Department of Statistics to identify the essential goods and services that should be the focus of the enquiry

2) Inviting interest groups, consumers and individual Bermudians, who wish to provide data, statistics and other information, to make submissions to the Commission

3) Inviting input from wholesalers; supermarkets; convenience stores, discount stores, other businesses and services that provide essential goods and services

4) Consulting with the various unions including: the Bermuda Trade Union Congress, the Bermuda Industrial Union, the Bermuda Public Services Union, the Fire Services Union, Bermuda Union of Teachers, the Prison Officers Union, etc.

5) Consulting with the Bermuda Small Business Development Corporation, and employer groups including the Chamber of Commerce, Bermuda Employers Council, etc.

6) Obtaining information from shipping companies and other importers regarding the current cost of shipping, both air and freight;

7) Producing a report for the Minister recommending how Government can assist in ensuring that consumers can get the most reasonable price for essential goods and services.

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