Agriculture

Floods prompt price speculation

Government officials had harsh words for retailers who decided to raise prices after recent floods.

la prensa

tater troubles: Some retailers decided to increase the price of food despite the fact that supplies were not disrupted.1125638

Wholesale produce markets in the Chiriquí province suffered sudden price hikes this week as lingering floodwaters left many roads from agricultural areas impassable.

Eight of the nine roads in the highland regions are undergoing repairs after being blocked, a situation that director for the Ministry of Agricultural Development in Chiriquí, Henry Ledezma, interpreted as a sign of stabilization for the rain-ravaged region.

The official railed against produce retailers who saw in the shipping delays an opportunity to inflate prices, claiming that it was “unjustified to speculate on the idea of a disruption [in the supply].”

In David, for example, the price of a quintal of potatoes trucked in from the Chiriquí fields jumped to around $80, nearly double the sum being asked for by growers. Consumers saw the price per pound of potatoes rise to nearly a dollar.

“This must normalize itself. The produce is arriving in spite of the problems we had on the roads,” argued Ledezma.

In a tour of the produce market in the province’s capital, authorities confirmed that carrot prices had spiked upon news of severe flooding in the region, only to drop off shortly afterwards.

This week, carrots sold for $60 a quintal before returning to about $45 yesterday.

Potato prices were at $70 per quintal yesterday, whereas a quintal of celery held at $100.

When asked whether increased consumption during the holiday season would affect produce prices, Ledezma rejected the notion.

“We did an inventory and we know that growers planted more this year, so we don’t expect exorbitant hikes,” he said.