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Ethiopia: Recent Price Hike in Salt Due to Retrospection - Residents
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The Daily Monitor (Addis Ababa)
11 March 2008
Posted to the web 11 March 2008
Addis Ababa
Retrospection was behind the current price hike in salt and the confusion that followed fro a few days in the capital Addis Ababa and some regional towns, The Daily Monitor has learnt.
Residents say the abrupt price surge in salt was the result of deliberately distorted information that was communicated throughout Addis.
A kilo of salt was sold as high as 10 ETB late last week in some parts of the capital.
Consumers said such high demand was due to retrospection of the scenarios on other commodities in the last few months.
A 1000 percent price surge in salt and subsequent increase in demand became the big issue of the day which prompted a long queue outside retail shops.
As described by some Addis consumers at different corners, Addis consumers were drawing from past incidents from the continual rise of consumer price index especially on basic food items.
A resident said Addis Ababa's are anxious consumers who would take any market information for granted, and take desperate moves, thereby upsetting the "normal market situation".
"The price of hot pepper and sugar rose in such kind of situations so far, so I was afraid the same would happen with salt and I bought three kilograms of it 10 birr per kilo," said a woman from Filwoha area.
A resident who was asked for his comment, who, by accident, happened to be economist by profession, said recent salt price said it was a sort of madness created from wrong communication.
"It is also an indication that retailers and merchants are socially irresponsible," he contended.
"It is hardly surprising for such a situation to happen in this country where there is no known network between consumer and city administration," said the economist who teaches at a private college here.
For some residents, the turmoil of price hick in salt was more of a drama that a reality.
Others associated the problem with security problem surrounding Afidera, in the remote afar region where fighting between the government and Afar rebels have been reported.
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It was heard from public media that Addis police arrested some of the merchants and retailers who sold salt beyond 1.75ETB. However, public relation office of Addis Ababa police commission declined to comment on retails that were in custody.
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