For the fifth time the Varela administration has extended the measure regulating the maximum prices of retail of 22 products in the basic basket, until July this year.
From a statement issued by the Ministry of Economy, Trade and Industry:
The national government has extended, starting from January 7 2017, the temporary regulation of maximum prices for sales of 22 products in the basic food basket (CBA by its initials in Spanish) known as price controls, taking into consideration the positive results from the immediate reduction of CBA costs, giving Panamanians greater access to necessities.
Increases in the prices of sugar and dairy products account for the 0.7% increase compared to the previous month and 9% in the food price index.
From a statement issued by the United Nations Food and Agriculture Organization:
» The FAO Food Price Index* (FFPI) averaged 172.6 points in October 2016, up 1.2 points (0.7 percent) from September and 9.1 percent above the corresponding month last year. Except for a short-lived drop in July, the Index has risen continuously since the start of the year. In October, sugar and dairy values rose sharply, while the cereal index made a modest increase. These gains coincided with sharp declines in the oils and meat indices, which kept the overall value of the FFPI only slightly above its September average.
The Venezuelan government has announced that it will be negotiating with Panamanian companies interested in selling food and commodities that can come into the country duty free.
The government of Venezuela has announced that it has $100 million availableto buy more than one thousand tons of food products,"... including canned tuna, tomato sauce, mayonnaise, pasta, wheat flour, rice, lentils, black beans, margarine, oatmeal, coffee, powdered milk and canned meat. "
The FAO food price index rose slightly in March due to sharp increases in prices of sugar and palm oil.
From a press release by the Food and Agriculture Organization:
The FAO Food Price Index* (FFPI) averaged 151.0 points in March 2016, up 1.0 percent from February, but almost 21 points (12.0 percent) below its March 2015 level. The main feature last month was the strong rebound in sugar prices, which, combined with a further increase in vegetable oil quotations, more than offset a plunge in dairy values. International prices of the other commodities used in the calculation of the FFPI changed little.
Prices of main staple foods fell in November, reversing about half the increase recorded in October, with widespread declines, with the exception of sugar.
From the release by the Food and Agriculture Organization of the United Nations:
3 December, Rome--Major food commodity prices fell in November, reversing about half their rise in the previous month, as the cost of internationally-traded staples, except for sugar, fell across the board.
International prices of staple foods are the lowest since 2008 due to increased supply, declining energy prices, and concerns about the economic slowdown in China.
From the report by the Food and Agriculture Organization of the United Nations:
10 September 2015, Rome -International food commodity prices continued to decline in August as ample supplies, a slump in energy prices and concerns over China's economic slowdown all contributed to the sharpest fall of the FAO Food Price Index in almost seven years.
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.
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