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Venezuela VP warns businesses against hoarding

Friday - 2/1/2013, 6:03pm  ET

CARACAS, Venezuela (AP) - Venezuela's government has warned businesses against hoarding food amid problems with shortages, saying authorities are poised to take action.

Shortages of some basic foods such as sugar and cornmeal have worsened recently while the government has been making available fewer dollars at the fixed exchange rate.

Business leaders say the limited supply of dollars, along with decreased industrial and agricultural production, has caused shortages.

Vice President Nicolas Maduro said Friday the government would crack down on businesses caught hoarding food.

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