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U.S. securities traders gain

For retailers margins of 7-8%
is an old habit of our country to blame the trade to embezzle large part of the value of production sold at prices unjustified.
let us just that the current price trend is typically costs from inflation, an exogenous shock experienced by European countries in a similar way.
However, other factors are implicated. The first is the so-called speculation, wrong term because it would relate to transactions that result in a scarcity of goods on the market in order to gain an unfair profit. And here there is no doubt big misunderstanding. The other issue is the value chain of some basic necessities. The Vulgate says that for every euro spent by the consumer to purchase a food product, 23 cents go to industry, agriculture 17 and 60 to trade. Nobody asks where they're at least in that allocation, indirect taxes like VAT. Yet in official documents, the words correct this so-called margin is' gross margin for distribution and transport. A little suspicion that this is something other than the profit of the traders would have to rise. In fact, that "gross margin" may not be the profit of the traders, if only because it includes the balance of indirect taxes (withheld and paid by traders) and subsidies on products (all received by the farmers!) Over the edge transport, which have nothing to do with the distribution. It would have been sufficient to read the entire statement to avoid error in a mark. The term "margin" means the production Gross marketable trade and transport, which must be subtracted from the intermediate costs incurred by the trade to produce this production, in order to arrive at value added (with whom, then, must be paid wages and salaries of employees and depreciation ). Normal deducted these items from the "lion" 60 we come to the net operating surplus of trade, amounting to about 10 (10%). From this margin, except for the indirect taxes, will pay direct taxes and therefore, out of € unprocessed food bought in Italy about 7-8 cents to the retail and wholesale trade taken together. * Research Department
Confcommercio
Mariano Bella and Luciano Mauro *