Venezuela price control on staple products

The Venezuelan government has set new quotas on 12 staple food products, which must now be produced, in regulated quantities and at controlled prices.



The items include milk, rice, coffee and sugar.



Several food companies are said to be upset by the move.



They say the measure will drive them into bankruptcy.



The government is insisting that the measure is intended to stop food companies from evading existing laws on price controls.



The government said it will also reduce the cost of the basic shopping basket of ordinary Venezuelans.