Bolsonaro urges entrepreneurs to hold down food prices

RIO DE JANEIRO, BRAZIL – President Jair Bolsonaro appealed to entrepreneurs to hold down the price of food. The request occurred during a meeting with several economic sectors in the state of Rio de Janeiro, on Thursday, June 17. The meeting was restricted and could not be attended by the press.

The report on the president’s request was made by Senator Flávio Bolsonaro (Patriotas-RJ), in a press conference after the meeting.

“He passed the message of good prospects for the future. He made an appeal to the sector, because, obviously, due to this great injection of resources in the economy, there is a world trend for an increase in inflation. Especially for basic necessity items. That’s why he mentioned the supermarket sector, where the rice, the beans, the eggs are,” said the Senator.

According to Flávio Bolsonaro, who spoke alongside the president of the Supermarket Association of Rio de Janeiro, Fábio Queiroz, President Bolsonaro recognized the sacrifice that supermarkets already make.

“Within this productive chain, obviously, it is not supermarket owners who are responsible for the rise in prices. He [Bolsonaro] made this appeal, if possible, to reduce the profit margin even more, if there is room. We understand that it is a difficult equation. We have to support those who can’t afford it, and need to have something to eat at home. Due to the increase in demand, the natural consequence is a rise in prices. He [President Bolsonaro] has shown particular concern in relation to the inflation of basic food basket products,” reported the Senator.

The president of the supermarket association acknowledged that the sector has a responsibility, together with the government, to hold down prices.

But he recalled that the exchange rate, which weakens the Brazilian Real and strengthens the dollar, leads to producers being more interested in selling to foreign markets.

“The high dollar is a great invitation to export and this leads to a shortage of goods in the domestic market, which puts pressure on inflation. All of us in the production and supply chain, along with the government, are responsible for keeping prices down,” said Queiroz.

The entrepreneurs, part of the Productive Rio movement comprising 11 business entities from the state, submitted a letter with proposals to President Bolsonaro.

Among these proposals are the maintenance of emergency aid to the population and to companies; the acceleration of vaccination for a faster economic recovery, and investments in infrastructure works such as highways and road integration of the state’s airports.