BY CHRONICLE STAFF
Venezuela may be an oil-rich country, but you wouldn't believe it by visiting supermarkets in Caracas these days. Basic items like meat and sugar are missing thanks to government price policies that have resulted in importers and producers from losing money by selling at artificially low prices.
"The price controls that were established by the government were totally divorced from the cost," says Pedro Palma, director of MetroEconomica consultancy in Caracas. "They condemn producers and importers and traders to lose money."