Chlef Wholesaler Receives 10-Year Prison Term for Speculation

A 47-year-old wholesaler was sentenced to 10 years in prison and a fine of 500 million centimes by the Chlef correctional tribunal. The conviction stemmed from charges of illicit speculation on bananas, a product subject to price caps. The case involved the discovery of 152 cases, totaling nearly 28 quintals of bananas, concealed within an undeclared cold room located in the El Kfafsa district on the outskirts of Chlef.

Security services initiated an investigation following precise information regarding the significant quantity of bananas stored in the depot. Under the supervision of the public prosecutor, national security personnel conducted a surprise inspection, revealing the hidden produce. This illicit storage operation was reportedly intended to create an artificial shortage in the local market, thereby inflating prices. The defendant's claim of safeguarding the fruit from high temperatures did not convince the tribunal during the proceedings.

This decisive sentencing is part of a comprehensive government offensive aimed at reasserting control over the banana sector and ensuring market stability. Public authorities have implemented stricter regulations, including capping import authorization prices at one dollar per kilogram, a measure that has already led to the approval of over 460 programs by the ABEF and the Bank of Algeria. These efforts, alongside opening the market to new investors and continuous inspections by internal trade brigades, are designed to counter speculative practices, control profit margins across the distribution chain, and directly benefit citizens' purchasing power.