TABJ Sep 8 - The Seychelles Trading Company (STC) said they would not raise food prices, despite globally rising prices.

The global rice in food items has to due with national catastrophes such as the floods in Pakistan and Russian fires that have destroyed food crops.

Claude Marimba, the STC’s general manager for corporate affairs stated that the company will review this decision in October. He said to press, “We are able to do this because of forward buying. We have already booked and paid for the wheat and rice we need for the next six weeks, and the suppliers are bound to supply us as agreed even if prices rise.”

Though the STC does not have the majority, Marimba claims they pride themselves on good quality and price stability for consumers.

He said to press, “The policy of announcing a price fix at STC supermarkets and franchises every three months gives an assurance of price stability for consumers.”