Rabat – The Chamber of Commerce, Industry and Services of Tangiers-Tetouan-Al Hoceima (CCISTTA) warned on Wednesday of the spread of monopolies and price gouging, specifying that they could lead to price increases of basic goods.
“To help bring prices down and return them to their normal state, the Chamber of Commerce, Industry and Services of Tangiers-Tetouan-Al Hoceima urges all wholesale and retail sellers to follow the laws that regulate trading and that are related to price freedom, competition, and publicizing prices,” a statement by the chamber of commerce said.
The statement attributed the recent rise in the prices of many goods to the “spread of intermediaries and speculators,” whose business practices can cause the price of goods to increase during their transfer from wholesale to retail operators.
The CCISTTA urged traders to “exercise caution and combat all forms of monopoly” in an effort to minimize the cost to them and thus to the consumers.
The chamber also called on retailers to use “reasonable” profit margins on their products to maintain citizens’ purchasing powers, especially those from lower socio-economic classes.
Moroccans have been burdened with rising prices of essential food items over the past year, due to global supply issues as well as a historic drought that hit the country’s agriculture sector.
King Mohammed VI addressed the issue in his 23rd Throne Day speech, when he directed the government to subsidize basic goods and ensure their accessibility to all citizens.
The chamber’s warning comes on the heels of Morocco’s Head of Government Aziz Akhannouch reassuring the populace on Thursday that prices for food products will soon lower ahead of the month of Ramadan, citing good agricultural production.
Akhannouch also urged local authorities and leaders to tighten regulation around markets and food products to make sure that supplies are adequate and that all regulations are being followed.
