Economy, Services, Commodities and Prices-Cheaper basmati rice at Chez Deenu |25 September 2009

A survey was conducted to compare the price that Chez Deenu is asking for basmati rice with the prices that the two well-known supermarkets – Seychelles Trading Company (STC) and Citimart (formerly known as SupaSave) – are asking.

It was indeed surprising to learn that Chez Deenu’s basmati rice is more than twice as cheap as STC is offering. For instance, 1kg of basmati rice at STC costs R30 and 5kg cost R147.75, that is a difference of R18.15 for 1kg and R88.50 for the 5kg – indeed a huge difference. 

The rice price comparison has been made before. It is another compare-apple-for-apple case. The last time STC explained that the rice it imported was of superior quality and a superior blend. 

This is a matter for consumers to decide. Not all consumers are looking for brand names and may be more interested in decent, edible foods that are sold at reasonable prices. At least now they have a choice from a range of quality, brands and prices.

As for Citimart, its basmati rice was nearly four times more expensive than what Chez Deenu was offering. Citimart is selling 5kg of basmati rice for R220, that is a difference of R160.75. Again, we should take into consideration that it is a different brand.

What is the true basmati rice, please?
The basmati rice that Chez Deenu is selling is a product of the Pakistan SIGMASIA rice mill. 

Latest price movements

There has been a drop in the prices of cooking oils, dairy products and drinks. Prices of meat and fish have gone up, according to the Consumer Price Index and the National Consumers Forum (Natcof). 

According to the Consumer Price Index, the rate of inflation as at August 2009 stood at 45.5%. This is measured as a ratio of the average index over the 12-month period (September 2008-August 2009) to the average index of the preceding 12-month period (September 2007-August 2008). Over the same period, the rate of inflation for fish stood at 17.6%, other food 58.7% and non-food 41.7%.

On a month-on-month comparison, fish prices increased by 5.8% in August 2009 compared to July 2009. August is the peak south-east monsoon month when fish is scarce.

Natcof last week took few samples of prices. There was an indication of a sharp increase in the price of fish. Karang, which was selling at R50 in June this year, was selling at R100 last week. At Oceana Fisheries karang is now retailing at R23 per kilo, an increase of R5 per kilo.

The most significant decreases in prices in the other foods category were recorded in oils and fats (-7.5%) followed by milk, cheese and eggs.

The following food sub-categories also recorded decreases in August compared to July 2009: vegetables (-3.7%), non-alcoholic drinks (-2.9%), bread and cereals (-2.0%). There was an increase of 1.8% in the price of meat. In the non-food category, alcoholic drinks recorded a drop in price (-5.9%).

Two suppliers of animal feeds

There are now two suppliers of animal feeds in Seychelles. The Bois de Rose factory, formerly owned by the state and now transferred to the Seychelles Farmers’ Cooperative for free, is reportedly doing well.

Rosebelle Farm based at La Misere has recently been advertising animal feeds that it is importing to sell to livestock producers in Seychelles.

Rosebelle Farm declined to publicise the list of its prices, so there is no public comparison of the prices of the two suppliers.

A spokesperson at Rosebelle Farm said the company is now selling its products only to farmers and not to individuals, and that at the moment it is not properly set up.

Crude oil prices
As at 24/09/09
Nymex Crude Future     68.64 dollars per barrel
Dated Brent spot            66.99 dollars per barrel