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Argentina: Supermarket consumption projected to grow by 5%

Mass consumption of foods, beverages and toiletry products in the supermarket channel will grow 5% this year, predicted industry sources.

"In volume, the increased consumption from supermarkets this year will be 5%" compared with 2011, said Daniel Fernandez Carrefour network president.

"Retail is very competitive. Costs are stable if there is no reason to raise prices," said Fernandez to the press when asked about the request made yesterday by President Cristina Fernandez de Kirchner to entrepreneurs for more investment and price stability after announcing an increase in universal allocations.

He added that consumption is good. "Prices are not moving up and down. The issue is the cost, where we must seek additional efficiencies."

On another note, he said the supermarket covers a third of retail sales in Argentina, which determines that is has potential for growth and expansion, the reason why it is penetrating the market with new formats.

He said that even "in Brazil and Colombia, the development of the sector is greater".

On the supply of low-cost food, Fernandez explained that "our responsibility is to try to encourage access to consumption.

"This option exists since 2009 and we have been changing every 15 days through various menus. Ther are 40 products, 10 of which have subsidized prices through the chain," he explained.

Source: Telam

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