Saturday, 11 July 2015

43 euros for a kilo of black beans

If we believe in what a local newspaper in Venezuela says, you have to pay 300 Bs for one kilo of black beans in the city of Puerto Cabello. I am right now not in Venezuela but I believe it because I have relatives living all over the place and that is what they say black beans' price is nowadays.

If a foreigner went to Venezuela and sold his euros in the black market, that kilo would be worth less than an euro to him. The vast majority of Venezuelans, though, do not have euros or dollars nor is there a free market in which the economic system they live in can regulate the local currency's weight against foreign money. That's how black markets appear. 

A Venezuelan school teacher with over 6 years of working experience would be able to buy 30 kilos of black beans with all of her monthly salary.

Venezuela is not Siberia. The ideal place for growing black beans is there.

I wonder if the useful idiots who say abroad that Venezuela is under an economic war still believe that.

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