The Tribune

By YOURI KEMP

Tribune Business Reporter

ykemp@tribunemedia.net’

Super Value’s president said higher prices are coming to stores in October, but he will do the best he can to keep prices from getting out of control.

Rupert Roberts told Tribune Business that while even higher prices are on the horizon, he is doing the best he can to minimize the impact for consumers considering all that’s happening in the retail grocer business including rising cost in shipping.

“Prices and rates have increased, but we are going to do the best we can,” he said.

Food retailers and wholesalers all point towards a very expensive end of year with food prices trending upwards on all items as consumers return to work in the US and as factories and agro-processing plants remain understaffed. On top of this is the rising cost of shipping and freight.

Mr Roberts said: “We should start to import higher prices around October or November just what we said previously. We almost have corned beef inventory to last until next summer, although we are having one more shipment in at the old price because we have a forward contract.

“We’ve got probably 10 months inventory of corned beef on hand or booked at the low price. We work every day to try to deal with this matter when we know we’re going to get a price increase, we put on three or four orders and they come in month after month.

“We’re here to put groceries on the table at the best possible price and we work hard every day to do that.”

Family favourite items like corned beef, cream and spaghetti is what Mr Roberts gauges how prices across the entire store will trend, sometimes months in advance. Once he sees certain grocery items trending upward he makes plans to address it months in advance to give consumers the best possible chance to shop within their budget.

“We don’t want to keep promoting bad news out there because we are holding prices wherever we can,” said Mr Roberts. “I have seen the media in the US saying that there is already a five percent increase in the supermarkets, but we haven’t imported that yet because of the way we buy. When we know its going up we cover ourselves with forward orders and delay higher prices for about three months.”

Despite the consistent warnings of price increases coupled with the soft economy brought on by the COVID-19 pandemic, Mr Roberts said Bahamian shopping habits have still not changed at all.

“Bahamians still want the national brands, but they will buy private labels if they are good quality at a lower price” he said.