CounterPunchTT
FOOD prices are going up and up.
And your groceries would continue to cost you more – for these reasons.
Local food importers are having difficulties in securing their quotas of foreign exchange and they are paying more on the black market.
The increased cost of foreign currency is being passed onto consumers.
Supply chain disruptions caused by the Covid-19 pandemic are leading to higher shipping costs and related charges.
Again, consumers are paying the bill.
Shortages in production of grain and other food items are leading to hoarding by producing countries, and, therefore, supply-and-demand issues are jacking up costs.
It is expected that food producers would not increase output to cater for demand until, at best, the end of the year.
Rising international gas prices are also influencing sale prices of several food items.
Agricultural labour costs have also gone up in some countries, while others are facing shortages of farm workers.
Social distancing protocol caused employers to seek to hire more workers.
Local grocer Balliram Maharaj has acknowledged that prices of several food items are rising
Maharaj said that market forces could help to suppress prices, stating: “We have the power in our picket,”
He said he has written to Trade and Industry Minister Paula Gopee-Scoon on the matter.
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