After five consecutive months of increases, the index of food prices fell slightly in July, reflecting a reduction in the prices of cereals and vegetable oils.
From a statement issued by the Food and Agriculture Organization:
4 August 2016, Rome –The international prices for majorfood commoditiessaw a modest decline in July, following five consecutive months of increases. The FAO Food Price Index (FPI) averaged 161.9 points in July 2016, slipping 0.8 percent (1.3 points) below its level in June and 1.4 percent below its level of July 2015.The overall decline of the Index was largely caused by drops in international quotations of grains and vegetable oils, more than offsetting firmer dairy, meat and sugar prices.
As of April 26, importers of food and raw materials and food additives must comply with new requirements which includes having a sanitation registration.
From a statement issued by the Panamanian Food Safety Authority:
Dozens of importers attended a training session that was run by the Panamanian Authority for Food Safety (AUPSA), to publicize the new hygiene requirements for the introduction of raw materials and foodadditives used for the production of food for human consumption as well as processed foods and packaged foods for direct consumption.
In December, the price index registered a decline of 1% compared to November, resulting in the largest decrease in the prices of meat, dairy and grain products being offset by increases in sugar and vegetable oils.
From the press release by the Food and Agriculture Organization of the UN:
7 January 2016, Rome - Prices of major food commodities declined for the fourth year in a row in 2015, averaging 19.1 percent below their previous-year's levels, as the dwindling global economy also triggered sharp price falls from metals to energy markets.
Food inflation in June registered a variation of -0.4% in Nicaragua, -0.3% in El Salvador , 0.3% in Panama, 0.4% in Costa Rica, 0.9% in Guatemala and 0, 5% in Honduras.
"Nicaragua had the lowest rate of food inflation of the countries monitored in the subregion, with -0.4%, down 0.7 percentage points from May. The food inflation rate of El Salvador was -0.3%, down 0.5 percentage points from May.
Reports indicate that for the first time in months, commodities such as cotton, corn and wheat are showing an upward trend, while others such as coffee, sugar and copper have still not recovered.
The downward trend shown by the international price of coffee and other commodities such as sugar, gold and copper, could continue a while longer on the same trajectory, since there are not any factors that would justify a change in the trend, reports Blackbox at, CABI. However, "... They have been on the floor for the last seven years, having reached the bottom during the 2009 crisis, therefore no further declines are expected in general terms, while at the same time there are commodities that have started going into a bull market. "
Under public consultation is a draft procedure for the payment of tariffs on imported materials and payment of sales tax and selective consumption tax for the final goods.
In the application of Article 21 of the Free Zones Act and 136 of the Rules which provide that companies classified as processing industries that process or assemble exported goods, whether or not and they meet the requirements of Article 21 of the Free Zones Act, pay tariffs on goods subject to local sales only on imported materials used in both the payment of the remaining taxes (Excise Tax consumption and sales) are paid on the final good; the draft procedure is available at the website www.hacienda.go.cr/contenido/12512-propuestas-en-consulta-pública under the name "Process Sale Estate category f) for public consultation", for the purpose of allowing the submission of comments, within 10 working days, using the following email addresses: email@example.com, firstname.lastname@example.org.
In Costa Rica the regulatory body has agreed to the commitment made by Essilor Internacional not to distort the market by blocking raw materials or price discrimination, as a condition for the purchase of Grupo Vision.
From a statement issued by the Commission to Promote Competition (COPROCOM):
An agreement has been made to postpone until May 25 the effectiveness of various lists of tax breaks for the purchase of raw materials in order to work on a single document and add new products.
At a meeting between representatives of the government and the private sector it was agreed to extend the validity of the lists for tax exemptions in order to negotiate within that period the inclusion of other products and the creation of a single document. It was also agreed to remove fines for importers starting from 1 April.