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Trinidad: Supermarkets not ‘price setters’ Association head: Retail food industry responding to economy

WITH the rising cost of food prices, the Supermarket Association president Rajiv Diptee is making it clear that they are not “price setters” but “price takers.”

In a statement e-mailed to Newsday on Friday, Diptee said, “The retail food industry has noted with great consternation the rising costs of doing business coupled with decreasing revenues, higher overheads in terms of rents, utilities and taxes, flat sales in what is a worryingly stagnant consumer environment and an increasingly difficult labour environment in terms of the pool of labour and the application of those laws as they apply to labour.”

Spiralling crime adding to the security costs has not helped and the lack of foreign exchange income and accessibility has caused crippling burdens on the side of supply creating a strain on the side of retail.

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