Posted on 11/22/2021 12:03:44 PM PST by edwinland
CARACAS, May 18 (Reuters) - Venezuelan officials and soldiers inspected a warehouse of U.S. agribusiness giant Cargill Inc [CARGIL.UL] on Wednesday as part of a crackdown on alleged hoarding and price-gouging with foodstuffs.
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With Venezuelans complaining of oil, flour, meat and other shortages in recent days, Chavez over the weekend urged ministers to hunt speculators and said he would have no hesitation in expropriating any companies found guilty.
Government officials, together with armed National Guard members, found 148 tonnes of food oil at the Cargill warehouse in Caracas during Wednesday’s operation.
“We are checking how oil reaches black market sales points and why it is not in the supermarket shelves,” said Augusto Montiel, the head of government inspection body Indepabis, without making any specific accusation against Cargill.
“We need a supervisory procedure so that everything in this distribution plant reaches the market,” he added.
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More than 200 companies, mainly small ones, passed into the hands of the Venezuelan state last year.
Since the oil, heavy industries and telecoms sectors have seen major nationalizations in the past, the recent emphasis has been on increasing state control over food supply.
Chavez has often threatened to seize brewer and food processor Empresas Polar, Venezuela’s top private employer.
Critics say shortages arise in the OPEC member nation’s economy due to incompetent policies by the Chavez government.
Nationalizations have created a siege mentality among private companies, and difficulties in obtaining foreign currency can interrupt import operations and cash-flows.
The Venezuelan leader is heading towards a presidential election, expected at the end of 2012.
Though currently favorite to win and rising to above 50 percent in opinion polls of late, widespread dissatisfaction with public services, crime and high prices gives the opposition its best shot at power in years.
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(Excerpt) Read more at reuters.com ...
Glad he is running in 2012, he should hopefully be gone be 2021.
What’s that odor of burning sulfur I smell?...............
Cargill are fools for doing business in a communist country. I have no sympathy for them and I would hope the Biden Administration doesn’t lift a finger to help them.
Back when Allende was in power in Chile, he “bought” three General Tire plants for $1 each as part of a nationalization effort when he took power. He also froze prices and doubled everyone’s income. It took less than a month before the shelves were empty in that once-prosperous country. The tire plants ran with chew-run and bailing wire repairs for about two years before they needed parts for the plants. Imagine what General Tire’s response was when he asked for spare parts. Venezuela is following the same path and will likely also end up with a complete economic meltdown.
Chile was smart enough to return to capitalism. I wonder if Venezuela is as smart.
Be blessed Red Badger!
Article is from 2011
Those commie scum at Reuters write all this with straight faces. They should be up against the wall with Mad Chavez and his gang of cutthroats and pirates.
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