Panama: Food crisis affects the basic consumer basket of goods

The worldwide food crisis is a concern not only because of the possible scarcity of food, but also because it raises prices for the entire basket of family consumer goods, and Panama cannot ignore it.

Tuesday, April 29, 2008

The Minister of Agricultural Development, Guillermo Salazar, said the increase in the basic basket of goods is increasingly important. For example, he said, in 2003 the average cost of the basket was 189.27 dollars, while in 2004 it was 193.15 dollars, a rise of two per cent.
In 2005 its cost rose to 202.51 dollars, in 2005 it cost 205.38 dollars, and last year its average cost was 222.44 dollars, up 8.3 per cent over 2006.



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The worldwide and national alert for the increase in price of many products such as grains, the basic consumer basket of goods, and services such as transportation and electricity can be overcome without government interventions, through the free market and encouragement of entrepreneurial activities.

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The food crisis in the next two years will be terrible, especially for countries like El Salvador that depend on imports. Recent governments have not foreseen the problem and have allowed the abandonment of agriculture, betting instead on industry, trade and the financial system.

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