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Suspected of hoarding, Venezuela confiscated nearly 4 million toys

by:Toysmax     2021-07-31
With Christmas approaching, the Venezuelan government recently confiscated more than 3.82 million toys from the warehouse of the country’s largest toy dealer, Kraiser, on the grounds of alleged price hikes.   These toys will be sold to impoverished Venezuelan children at low prices during the Christmas season. The BBC and the Associated Press quoted William Contreras, the head of Venezuela’s consumer protection agency, on the 10th to report that Kraiser was suspected of misrepresenting the inventory of toys in order to increase the stock of toys by 5 times the original price during the Christmas season. Price sale. Contreras said that Kraizel claimed that the toys were old or damaged.   Two senior executives from Kraiser were arrested at the same time on suspicion of speculative trading. Contreras said that the investigation will tell those companies not to play with the rights of Venezuelan citizens.   Last week, the Venezuelan government issued a policy requiring retailers to reduce the price of a range of commodities by 30%. The Central Bank of Venezuela issued an announcement earlier this month that it will issue six newer banknotes of larger denominations from the 15th of this month to better meet the needs of commodity circulation and bank settlement.   Affected by the fall in international oil prices and the imbalance of economic policies, Venezuela is facing severe inflation. (Ocean)【Xinhua News Agency Micro Feature】
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