Venezuelan Flour Mills Without Grain Close Down, Universal Says
Caracas, May 13 (<a href=quote.bloomberg.com>Bloomberg) -- Venezuela's flour mills have begun to shut down because they can't get dollars from the country's foreign exchange commission to import grain, El Universal reported.
Three of the country's 16 mills have already closed, Alirio Perez, who heads the country's wheat association.
``We can't continue importing (wheat) because we have no guarantee that they will give us dollars,'' Perez said, the newspaper reported. Perez earlier warned that mills would run out of flour by the end of the month.
Venezuela banned dollar sales in January to stem a decline in international reserves after a two-month strike cut oil output, which accounts for 43 percent of government revenue. Limited dollar sales began last month. The country imports about 60 percent of the products it consumes.
(EU, 5/13, 1-12)
To see El Universal's Web site, click on {EUDC