News Feed

October 21, 2016 - Local weed cultivation on the rise Marijuana cultivation is on the ris ... +++ October 21, 2016 - Pollard vents on his failed UAE tour PORT OF SPAIN, Trinidad – Kie ... +++ October 21, 2016 - Teen faces indecency charge A St George teen who was charged in ... +++ October 21, 2016 - GAIA wage dispute resolution in sight A prolonged and sometimes bitter wa ... +++ October 21, 2016 - Combermere thrash Graydon Sealy Former champions Graydon Sealy had ... +++ October 21, 2016 - Diabetes rate too high With 200 amputations said to taking ... +++

$5 shift

FTC order reduces local sand price from $42 to $37

This island’s trade regulator has forced the main supplier of sand to slash its price.

Following an outcry by distributors, truckers and players in the construction sector over a near-doubling of the price by dominant wholesaler Walkers Sand Quarry in St Andrew, the Fair Trading Commission (FTC) has ruled that the increase was not only “excessive” but “unreasonable”.

Walkers Sand Quarry, a division of Island Developments Limited (IDL), had thrown players in the construction industry in a quandry when it announced on March 10 this year that they would have to pay almost twice as much per tonne for the sand with immediate effect. The decision resulted in a hike in the sand price from $22.70 to $42.01.

The decision of Walkers Sand Quarry to increase its price back in March had thrown players in the construction industry in a quandry.

The decision of Walkers Sand Quarry to increase its price back in March had thrown players in the construction industry in a quandry.

However, following a review of all of the evidence available to it on the matter, including the written responses and oral presentations of IDL, the FTC ordered that an adjustment be made.

“The Commission directed that IDL cease this practice by reducing the per tonne price of sand to a level that bears a more reasonable relationship to its underlying cost,” the FTC said.

“The Commission found that . . . the dominant supplier of wholesale sand in Barbados, in increasing its price from $22.70 to $42.01 on March 10, 2014, imposed an unfair selling price on wholesale sand that was excessive and unreasonable,” it ruled.

The regulator also revealed that the company had since adhered to its directive to bring down the price.

“Island Development Ltd has complied with the Commission’s directive and reduced the price of sand to $37 per tonne. The Commission is satisfied that this price is reasonable.”

There was immediate reaction from stakeholders to the ruling.

“Not bad,” declared Collin Small, managing director of CS Construction at Chance Hall, St Lucy.

However, he said “we are not getting any work. Things are down, down, down, so any lowering of price is still good”.

Steve Powell of Rotherley Construction also told Barbados TODAY that “in this present climate, anything helps”.

While welcoming the reduction, Executive Chairman of Innotech Services Limited Anthony Tony DaSilva said he was still “a little disappointed” that the price was not much lower.

DaSilva said he was perplexed that the FTC could describe the previous price of $42.01 as excessive and unreasonable, but yet was satisfied that the new one of $37 was reasonable.

Pointing out that moving from $22.70 per tonne to $42.01 was roughly a 90 per cent hike, the executive chairman explained that the Commission had now allowed Walkers Sand Quarry to get an estimated 70 per cent increase, based on the $37 it had settled for.

DaSilva also questioned how the price of sand in Barbados could be about three times that for the same commodity in neighbouring St Vincent & the Grenadines where Innotech also operates.

“In St Vincent, we pay Bds$11 per metric tonne,” he noted.    

BTwin a honda

ALSO If you sign up for Barbados Today before independence you could WIN a 2014 Honda City! Go here for full details

6 Responses to $5 shift

  1. Nicole Bolden
    Nicole Bolden November 11, 2014 at 5:31 am

    I agree with Da Silva!

  2. Hassan Taylor
    Hassan Taylor November 11, 2014 at 6:02 am

    FTC really has to change their name.

  3. David Gibson
    David Gibson November 11, 2014 at 6:47 am

    for those of u who are not truckers a ten wheeler ( biggest truck) load of sand was on average retail price to the consumer $750.00, the increase in march sent it up to almost $ 1200.00. so that reduction is really nothing to shout about…………… the way if any of u need sand stone marl fill soil , excavator or bobcat call me at 834-0257

  4. Dawn-Marie Rawlins
    Dawn-Marie Rawlins November 11, 2014 at 7:22 am

    So what did they really do??? $42 is unreasonable but they are satisfied with $37… Stupse……..

  5. Cyrus Martin November 11, 2014 at 9:34 am

    I smell a rat. Bds$11.00 a ton in SVG but its 240% more expensive in Barbados? Barbados has never been about value, its has always been about what the market can bear. Stupse.

  6. Sterlin Blackman
    Sterlin Blackman November 11, 2014 at 11:11 am

    Until Bajans stand for something as a nation they will fall for everything and be trampled by everyone . …..only bajans can help themselves now. Neither political party really care at this moment so the country is like a yard foul without a head


Leave a Reply

Your email address will not be published. Required fields are marked *