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Deadly Collision Claims 67 Lives in U.S. Air Disaster | At Least 30 Dead and Many Injured in Stampede at Maha Kumbh Mela in India | Chinese President Xi Jinping Affirms Cambodia's Role as a Key Partner in China’s Diplomatic Strategy | Xi Jinping Concludes State Visit to Cambodia, Strengthening Bilateral Ties | Chinese President Xi Jinping Concludes Successful State Visit to Cambodia | Chinese Ambassador: US-China Trade Tensions Harm Developing Nations; President Xi Urges Investment in Cambodia and Expanded Market Access | Japanese Maritime Self-Defense Force Ships Bungo and Etazima Dock at Ream Sea Base for Four-Day Visit | Prime Minister Hun Manet Expresses Displeasure Over Criticism of Chinese Investments During Kampot International Tourist Port Inauguration | Asian Development Bank Collaborates with Cambodia on New Development Projects Worth Over $1 Billion |

Commerce Ministry Denies Price-Fixing Rumours

  • Posted Jul 21, 2021 11:57 by Andrew Barnes-Roberts
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Phnom Penh: With the pandemic starting to have an impact on food prices, the Ministry of Commerce says it is not engaged in price fixing. It says only the basic trading principle of supply and demand is at play. Food prices have been rising in recent weeks, as border closures and increases in fuel prices cause havoc for transport and logistics companies.

Rumours began circulating in Cambodia’s markets about rising prices recently, particularly that of pork and other fresh foods. Fingers have been pointed at the Ministry of Commerce, but it says it is not fixing prices – either at markets or at the petrol pump. It says it is guided by the country’s constitution and trade agreements with neighbouring countries.

It has reminded Cambodians that international oil prices have been climbing in recent months, as major economies reopen around the world. This has a knock-on effect for transport costs, which, in turn, drive up the price of food. Border closures and increased logistical challenges are also having an impact on food prices. It does say though that any food producer found to be taking advantage of the situation and engaging in price gouging will be investigated if reported by members of the public.

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