This article is from the source 'bbc' and was first published or seen on . It will not be checked again for changes.
You can find the current article at its original source at http://news.bbc.co.uk/go/rss/-/1/hi/world/americas/8053006.stm
The article has changed 3 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| Venezuela seizes US pasta company | Venezuela seizes US pasta company |
| (about 1 hour later) | |
| Venezuelan officials accompanied by soldiers have seized "temporary" control of a US-owned pasta producer. | Venezuelan officials accompanied by soldiers have seized "temporary" control of a US-owned pasta producer. |
| Venezuela says the plant, owned by the big US firm Cargill, had violated regulations on price controls intended to guarantee cheap food for the poor. | Venezuela says the plant, owned by the big US firm Cargill, had violated regulations on price controls intended to guarantee cheap food for the poor. |
| The move further increases President Hugo Chavez's hold on the economy, after a series of recent take-overs of private and foreign-owned businesses. | The move further increases President Hugo Chavez's hold on the economy, after a series of recent take-overs of private and foreign-owned businesses. |
| They include a Cargill rice plant, and services companies in the oil industry. | They include a Cargill rice plant, and services companies in the oil industry. |
| Deputy Food Minister Rafael Coronado said the government would run the factory for 90 days, and would reassess the situation after that. | Deputy Food Minister Rafael Coronado said the government would run the factory for 90 days, and would reassess the situation after that. |
| He said it has not been producing sufficient quantities of a type of pasta sold at cheap, government-established prices. | He said it has not been producing sufficient quantities of a type of pasta sold at cheap, government-established prices. |
| Price control | Price control |
| The Cargill rice mill, taken over by the government for not producing rice covered by price controls, was similarly taken over this year. It was nationalised last March. | The Cargill rice mill, taken over by the government for not producing rice covered by price controls, was similarly taken over this year. It was nationalised last March. |
| Cargill had said it did not break the government's pricing rules on rice because the mill did not produce the plain rice which is regulated. | Cargill had said it did not break the government's pricing rules on rice because the mill did not produce the plain rice which is regulated. |
| Venezuela has set quotas and prices for 12 basic foods including rice, powdered milk, cheese and tomato sauce. | Venezuela has set quotas and prices for 12 basic foods including rice, powdered milk, cheese and tomato sauce. |
| Under the measure, 80% of all rice produced must be basic white rice. The measure also includes 95% of all cooking oil, coffee and sugar. | Under the measure, 80% of all rice produced must be basic white rice. The measure also includes 95% of all cooking oil, coffee and sugar. |
| Last week Mr Chavez sent troops to take over oil service companies including hundreds of supply boats, and two American owned gas facilities. | Last week Mr Chavez sent troops to take over oil service companies including hundreds of supply boats, and two American owned gas facilities. |
| He nationalised Venezuela's oil reserves, one of the largest in the Americas, two years ago. |