Bud Posted July 22, 2016 Share Posted July 22, 2016 Is there a chance that the cost of our locally purchased food items will go up because of a draw down in the supply chain? Not complaining here, just curious. Our understanding of the situation in Venezuela is rather dire. Quote Venezuela Takes $100 million to Panama to Buy Food The Venezuelan government has announced that it will be negotiating with Panamanian companies interested in selling food and commodities that can come into the country duty free. Thursday, July 21, 2016 The government of Venezuela has announced that it has $100 million available to buy more than one thousand tons of food products, "... including canned tuna, tomato sauce, mayonnaise, pasta, wheat flour, rice, lentils, black beans, margarine, oatmeal, coffee, powdered milk and canned meat. " Personal hygiene products to be requested include shaving razors, sanitary towels, soap, toilet paper, toothpaste, shampoo and deodorant. Deputy Minister of Domestic Trade in Venezuela, Urbáez Renier said that "... 'As soon as we have analyzed the profile of companies that are financially solvent, have acceptable prices and can guarantee shipping logistics, we will be signing the contract and making a down payment," the official said noting that they hope that as soon as the purchase order is finalised, the products will reach the Venezuelan territory within a period not exceeding three weeks and will enter exempt from tariffs in that country." "... Urbáez explained that so far more than six Panamanian companies have expressed interest in participating in this first round of negotiations for direct purchases and they expect to finalise contracts this week. " http://www.centralamericadata.com/en/article/main/Venezuela_Takes_100_million_to_Panama_to_Buy_Food Quote Link to comment Share on other sites More sharing options...
Roger B Posted July 23, 2016 Share Posted July 23, 2016 Bud. No. There is not a chance for any increase. The regulations in Panama does not allow it. And according to the news the venezuelan government chose some specific industries in Panama as supplier of the products they may need. So I guess all those companies will prepare themselves to this new sales oportunities by having enough raw material for the production of this increased sales. Quote Link to comment Share on other sites More sharing options...
Bud Posted July 24, 2016 Author Share Posted July 24, 2016 I am posting one last article on this subject, primarily for closure. Others are free to continue this topic if they wish. And thanks to Roger B for the clarification. Quote Venezuela aims $100 million at Panama for food Posted on July 23, 2016 in Panama Post Views: 174 The Venezuelan government has announced that it is negotiating with Panamanian companies interested in selling food and commodities that can go into the country duty free. The government says that it has $100 million available to buy more than 1,000 tons of food products, “… including canned tuna, tomato sauce, mayonnaise, pasta, wheat flour, rice, lentils, black beans, margarine, oatmeal, coffee, powdered milk and canned meat. “ Personal hygiene products to be requested include shaving razors, sanitary towels, soap, toilet paper, toothpaste, shampoo and deodorant. Deputy Minister of Domestic Trade in Venezuela, Urbáez Renier said that “… ‘As soon as we have analyzed the profile of companies that are financially solvent, have acceptable prices and can guarantee shipping logistics, we will be signing the contract and making a down payment,” the official said noting that they hope that as soon as the purchase order is finalized, the products will reach the Venezuelan territory within a period not exceeding three weeks and will enter exempt from tariffs in that country.” “… Urbáez explained that so far more than six Panamanian companies have expressed interest in participating in this first round of negotiations for direct purchases and they expect to finalize contracts this week ” reports CentralAmericaData http://www.newsroompanama.com/news/panama/venezuela-aims-100-million-panama-food Quote Link to comment Share on other sites More sharing options...
Bud Posted August 3, 2016 Author Share Posted August 3, 2016 Quote Panama and Food Sales to Venezuela In the first round of negotiations the Venezuelan government bought $46 million worth of food and hygiene products from five Panamanian companies and plans to increase purchases in the coming months. Monday, August 1, 2016 The total volume of foodstuffs, personal hygiene products and agricultural raw materials purchased by the Venezuelan government from companies in Panama amounts to 160 thousand tons. See: "Venezuela Takes $100 million to Panama to Buy Food""... The Minister of Industry and Commerce of that country, Miguel Perez Abad, said that the agreement to purchase goods and supplies was signed by the governments of both countries, as well as companies, and allows Venezuela to import products to cover basic needs and for Panama to respond reciprocally with the purchase of some products manufactured in the South American country. " "... The official explained that ... 'This is the first business negotiation, so to speak, but we hope it is the start of fluid and reciprocal trade between the two countries. The proposal is that if Venezuela buys 100 million dollars in products from Panamanian companies, Panama can also buy non-traditional export goods manufactured in Venezuela. ' " Source: Prensa.com http://www.centralamericadata.com/en/article/main/Panama_and_Food_Sales_to_Venezuela Quote Link to comment Share on other sites More sharing options...
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