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Chamber Speaks on Supply Chain Issue

The Bahamas Chamber of Commerce says local businesses are seeing a drop in profits due to disruption in supply chains and warning the situation could worsen with the current crisis in Ukraine.

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NASSAU, BAHAMAS – The Bahamas Chamber of Commerce says local businesses are seeing a drop in profits due to disruption in supply chains and warning the situation could worsen with the current crisis in Ukraine.

Berthony McDermott reports.

 

Many local businesses are having difficulty sourcing products in high demand, resulting in loss of revenue and dissatisfied customers, according to Chamber of Commerce President Waldon Russell.

At Quality Home Center, Manager Jennie Smith, explains they’re now getting items that were out of stock before Christmas.

The supply chain issue is no doubt a direct result of the worldwide COVID-19 pandemic.

But Russell explains, manufacturers are gradually ramping up production as demand increases.

But there’s still another issue causing price inflation in the local market.

In recent weeks, businesses like Super Value and Lowes Pharmacy warned of prices increases.

Meanwhile Quality Home Center says customers came in and left dissatisfied, and the business has already seen a decrease in traffic.

With the ongoing crisis in Ukraine, Russell says the disruption in the global supply chain could worsen.

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