Venezuela chides Procter & Gamble over sanitary pad prices

[Bacchus4.0]

Source: Reuters

http://news.yahoo.com/venezuela-chides-procter-gamble-over-sanitary-pad-prices-173712967--sector.html



CARACAS (Reuters) - Venezuela's socialist government has criticized U.S.-based Procter & Gamble for charging "criminal" prices for sanitary towels selling for a fifth of the monthly minimum wage.

The Cincinnati-based company has introduced a new brand to its Venezuelan market, Always Postparto, selling for 1,389 bolivars per pack.

That equates to $3.50 on the currency black market, or $220 at the government's strongest official rate.

"This is a criminal act against the Venezuelan people," Minister for Women Gladys Requena told reporters.



Read more: http://news.yahoo.com/venezuela-chides-procter-gamble-over-sanitary-pad-prices-173712967--sector.html

[Amishman]

1. at the rate Venezuela is going, they will cost double that next month

hyper inflation is at the door.

[COLGATE4]

2. Sounds like ita very small niche product -

'Always Postparto', i.e. 'Always (for use) after giving birth'. And $3.50 seems to be pretty much in line with what products of that type sell for. But it's always great to be able to loose a "criminal act against the Venezuelan people" charge- I'm sure it makes DimSuccessor feel better.

[Bacchus4.0]

3. There would be the possibility of producing their own products in country

but given the chavista government, that possibility is non-existent. Its oil or nothing.

[LanternWaste]

4. Well, except for steel, aluminium, transport equipment, textiles, apparel, beverages...

"Its oil or nothing..."

Well, except for steel, aluminium, transport equipment, textiles, apparel, beverages, and foodstuffs, cement, tires, paper and fertilizer (15% of GDP). But hey... whatever we need to tell ourselves to reinforce our biases is more often than not, all we want to tell anyone anyway.

[hack89]

6. By any measure their economy is unbalanced and non-diverse

95% of their export earnings are from oil. They are not self sufficient and have to import nearly all basic necessities including food and medicine.

[Bacchus4.0]

7. Its not enough, they import most of their needs including 70% of their food supply nt

[Igel]

9. "Fertilizer" is usually another way of saying "oil refineries nearby."

Cheap energy at the source. There are a lot of petrochemical plants down south and east of Houston, right where there are oil refineries.

Taking hyperbole at face value ... not much good that can be said, esp. when it's easily understood hyperbole. It's sort of imputing ill will from the start and crowing over the guillotining of a straw man after a long struggle.

[COLGATE4]

8. Yep. If they produced it in-country they'd be forced

to sell it for less that it cost to manufacture. Chavista Economics 101. So DimSuccessor stands (or falls) with the price of oil. Doesn't look promising for him.

[hack89]

5. That is what happens when you peg your currency at unrealistic rates. nt