WILLEMSTAD - Considering an increase in demand for care, cleaning and hygiene products as a result of the COVID-19 pandemic, the Curaçao government has introduced a regulation of maximum prices for this product category. This regulation was already introduced in March of this year and it concerns a maximum profit margin (percentage) and no fixed price set by the Curaçao government for these products.
The Curaçao government continues to find it extremely important to give the Curaçao people free and fair access to products that may be necessary for the protection of themselves and their loved ones within the current circumstances. In an effort to help protect consumers from potential misuse of prices in this product category, the Ministry of Economic Development (MEO) has conducted a market review and introduced a maximum profit margin for the following product categories as of March 18, 2020:
Gloves, both latex and silicone;
Hand sanitizers;
Disinfectant sprays;
Antibacterial wipes;
Cleaning alcohol (70% or more);
Thermometers;
Mouth caps or masks and
Various fruits and vegetables that contain a high dose of vitamin C.
The introduction of a maximum margin does not mean that the government has set a price at which a retailer (wholesaler or retailer) must sell each of the products. The margin determines what percentage of profit the retailer is allowed to calculate on each product category. Research shows that this is a fairer way to apply control as each retailer buys products at a different price. Introducing a fixed price would be beneficial to some and disadvantageous to others who may purchase the product at a higher price. This clearly also means that the prices of products can differ between different stores. It is up to each consumer where he chooses to shop.
All the different product categories, together with the maximum profit margins set by the government, are indicated in detail in the ministerial order (P.B. 2020 no.17, P.B. 2020 no. 18 i P.B. 2020 no. 22).
Since the introduction of this regulation, the economic inspection team has stepped up its routine checks regime to ensure compliance with this decision. Naturally, citizens must also remain attentive to exorbitant prices of one or more of the aforementioned products, and declare them by means of a WhatsApp to the economic inspection team on telephone number +599 9 511-1444.