Price reduction at SMB-More prices go down |07 July 2004

SMB announced Tuesday July 6 that salt, soya sauce superior, Colgate and Close Up toothpaste, Omo washing powder, Nan infant formula, and Mornflake Oats cereal have been cheaper since the of July 1, 2004.

These are products available at the SMB supermarket and the chain of franchise shops.
The products and their new retail prices are:

Salt

Iodised salt 500gms from SR1.50 to SR1.00.

Soya sauce

Soya sauce superior 600ml from SR9.50 to SR8.00.

Toothpaste

Colgate 100ml from SR4.90 to SR4.50.
Close up 100ml from SR5.00 to SR4.50.

Washing powder

Omo 500 gms from SR11.25 to SR8.75.

Infant formula

Nan-1 400gms from SR24.15 to SR17.50.
Nan-2 400gms from SR24.15 to SR19.50

Cereal

Mornflake Oats 500gms from SR7.85 to SR6.75.
 

The price reduction exercise follows instructions from President James A. Michel to SMB to lower the prices of goods it imports. The President said in his National Day address that it was the intention for SMB to revert to its original role of anchoring prices and ensuring the availability of essential commodities.

An SMB spokesman has said the price review would continue during the coming two weeks.
The spokesman noted that contrary to the prices of monopoly commodities which remain stable over a period of time, those of non-monopoly items fluctuate according to exchange rates, sourcing and other costs of new stocks.

The prices of rice, sugar, Nido and Carnation powdered milk, cooking oil, beef, chicken parts, oranges, red apples and garlic were lowered at the beginning of this month.