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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Food: Global Prices up to May 2018

June 2018

The FAO food price index grew 1.9% year-on-year, due to the increase in prices of dairy products and cereals.

From the monthly report on the FAO food price index:

The FAO Food Price Index* (FFPI) averaged 176.2 points in May 2018, up 2.2 points (1.2 percent) from April level and hitting its highest level since October 2017.

Food Prices Remain High

October 2011

High food prices are providing incentives to increase long-term investment in the agricultural sector.

An FAO report entitled "The State of Food Insecurity in the World 2011", focuses on the cost of volatile food prices, as well as the risks and opportunities posed by high food prices.

Price crisis has market solutions

May 2008

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.

That's the opinion of American economist James Gwartney, economics professor at Florida State University and co-author of the "Global Economic Freedom" Index.

Government seeks to stimulate production of basic grains in Costa Rica

April 2008

Costa Rica's Ministry of Agriculture and Livestock (MAG) will present a strategic plan to boost grain production in the country in the face of the world food crisis.

The MAG proposal that will be presented Wednesday seeks to stimulate basic production of corn, rice and beans, which had been falling since the 1980s. Statistics suggest that Costa Rica produces just half of the rice that it consumes and one-quarter of its beans.

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