Asovema- The Venezuelan Association of Rice Mills requested the executives to raise the prices of per kg of rice to Bs 34.75 after the increase in the prices of raw material by 244%.

The increase in the prices of the raw material are unfeasible economically and it will disturb the sustainability of the operation of the industry so there is a need of immediate action to be taken to revise the detail rice prices said by said in a press release Mary Trini Solórzano, executive director of the Asovema.

Since April 2014, the selling price of the Type 1 B rice  is 9.50  per kg  so this existing prices aspires to an increase of 265%  at consumer level.

According Asovema,the adjustment in the rice prices should be consider taking the lag at which the industry operates.In the last 23 months there have been increase in the labor cost of 88%,packaging material of 241% and frieght transport of 88%.