Up to January this year, the FAO food price index rose by 11% compared to the same month in 2019, explained by the increase in the prices of meat, dairy products, vegetable oils and sugar.
From FAO's monthly report:
» The FAO Food Price Index* (FFPI) averaged 182.5 points in January 2020, up 1.3 points (0.7 percent) from December 2019 and 11.3 percent higher than the same month last year.
Although at the beginning of the Cortizo administration it was announced that the price control system for the basic basket would be gradually removed, now the Panamanian president is threatening to add products that were already excluded again, if their prices rise.
On January 7, it was confirmed that the price control on 14 products of the basic family food basket would be extended for six more months, a measure that was rejected by the Panamanian business sector.
As of December last year, the FAO food price index was up 13% over the same month in 2018, explained by rising prices of meat, dairy products, vegetable oils and sugar.
From the monthly report of the FAO:
» The FAO Food Price Index* (FFPI) averaged 181.7 points in December 2019, up 4.4 points (2.5 percent) from November, marking the third month of consecutive increase. Strong rallies in vegetable oils, sugar and dairy markets pushed up the overall value of the Index to its highest level since December 2014. However, for 2019 as a whole, the FFPI averaged 171.5 points, only 3 points (1.8 percent) higher than in 2018 and still significantly (58 points or 25 percent) below its peak of 230 points registered in 2011.
Panamanian businessmen are opposed to extending price controls on 14 products in the basic family food basket for six months.
The list of products whose prices are controlled includes slank, ribbon steak, ground beef, whole chicken, rice, onions, yams, national potatoes, perita tomatoes, yucca, powdered milk, sliced bread, processed American yellow cheese and sausages.
In the tenth month of the year, the FAO food price index rose 6% from October 2018, explained by rising prices of sugar, meat, dairy products and vegetable oils.
From FAO's monthly report:
» The FAO Food Price Index* (FFPI) averaged 172.7 points in October 2019, up 1.7 percent (3 points) from September and 6.0 percent higher than in the corresponding period last year. The increase in October marked the first significant month-on-month rise in the value of the Index since May 2019, as surges in the prices of sugar, cereals and, to a lesser extent, meat and vegetable oils, more than offset a small decline in the value of the dairy sub-index.
In the ninth month of the year, the FAO food price index increased by 3% compared to September 2018, explained by the rise in the prices of sugar, meat, dairy products and vegetable oils.
From FAO's monthly report:
» The FAO Food Price Index* (FFPI) averaged nearly 170 points in September 2019, unchanged from August but 3.3 percent higher than in the corresponding period last year. While in September sugar prices fell sharply, the decline was almost entirely offset by higher prices of vegetable oils and meat. The Dairy index was down only marginally, whereas that of cereals remained steady.
In the first quarter of 2019, the countries of the region imported $108 million in animal feed preparations, 8% less than what was reported for the same period in 2018.
Figures from the Trade Intelligence Unit of CentralAmericaData: [GRAPHIC caption="Click to interact with graphic"]
In the eighth month of the year, the FAO food price index fell 2% from July 2019, explained by the decline in the prices of sugar and main cereals.
From FAO's monthly report:
» The FAO Food Price Index* (FFPI) averaged 169.8 points in August 2019, down 1.1 percent (almost 2.0 points) from July but still 1.1 percent higher than in August 2018.
In the seventh month of the year, FAO's food price index rose 2% over the same month in 2018, again explained by the increase in the prices of cereals, meat and sugar.
From FAO's monthly report:
» The FAO Food Price Index* (FFPI) averaged 170.9 points in July 2019, down 1.1 percent (1.8 points) from June but 2.3 percent higher than in July 2018. The month-on-month decline was the result of lower prices for some cereals, dairy products and sugar, which more than offset somewhat firmer prices for meat and oils.
In the fifth month of the year, the FAO food price index fell 2% over the same month in 2018, explained by the decline in prices of cereals and vegetable oils.
From the FAO monthly report:
The FAO Food Price Index* (FFPI) continued to rise for the fifth consecutive month, averaging 172.4 points in May 2019, up 1.2 percent (2.1 points) from April but still 1.9 percent below its level in the corresponding month last year. While prices for sugar and oils fell, the other sub-indices registered increases in May, led again by strong month-on-month firming of prices of dairy products followed by cereals.
In the fourth month of the year, the FAO food price index fell 2% over the same month in 2018, explained by the decline in prices of meat, cereals and vegetable oils.
From FAO's monthly report:
The FAO Food Price Index* (FFPI) rose in April 2019 to around 170 points, 1.5 percent (2.5 points) higher than in March and marking its highest value since June 2018. At this level, the FFPI would still remain 2.3 percent below its level in the corresponding month last year. Except for the sub-index for cereals, all the other sub-indices firmed in April, led by dairy and meat, and to a lesser extent vegetable oils and sugar.
In the third month of the year, the FAO food price index fell 4% from March 2018, explained by the decline in the prices of meat, cereals, vegetable oils and sugar.
From FAO's monthly report:
» The FAO Food Price Index* (FFPI) held steady in March 2019, averaging 167 points and still hovering around its highest value since August 2018.
Low productivity, climate vulnerability and the variation of international prices are part of the challenges faced by agricultural producers in Central America and the Dominican Republic.
The Inter-American Development Bank (IDB) published the study "Facing External Challenges, Internal Strengths: The Economic Environment of Central America and the Dominican Republic", which analyzes the current situation in the region and its 2019 outlook.
In the second month of the year, the FAO food price index fell 2% from February 2018, explained by the decline in the prices of meat, vegetable oils and sugar.
From FAO's monthly report:
The FAO Food Price Index* (FFPI) averaged 167.5 points in February 2019, up 2.7 points (1.7 percent) from January.
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