The Bordj Menaiel court in Boumerdès delivered a verdict today in a case of illegal onion speculation. The defendant, a 40-year-old, was sentenced to 7 years in prison and a fine of 2 million Algerian dinars.
The case began with the seizure of 284 quintals of red onions, stored in an unauthorized cold room. The person involved practiced these acts for the purpose of speculation.
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The seizure operation was carried out by the national gendarmerie in coordination with the fraud control and repression agents of the Commerce Department of the wilaya of Boumerdes.
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The press release from the Boumerdes Judicial Council specified that the defendant did not have a commercial register, which shows illegal activity. Finally, this harsh condemnation shows that the Algerian authorities take very seriously the illegal activities of commodity speculation, which have a negative impact on the prices and availability of products for consumers.
An impressive spike in onion prices
In recent weeks, onion prices have skyrocketed. Tariffs exceeded 300 dinars per kilogram and even reached 400 dinars/kg in some regions of the country.
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The Director General of Economic Control and Fraud Prevention at the Ministry of Trade and Export Promotion, Ahmed Mokrania, announced that 3,000 tons of onions will be destocked during this week. It should be noted that the kilo of onions was sold at 200 dinars a month ago.
