Haiti - Economy : 25% increase in the food basket - HaitiLibre.com : Haiti news 7/7

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Haiti - Economy : 25% increase in the food basket
23/04/2020 09:49:51

In its latest bulletin, the National Food Security Coordination (CNSA) explains that the "panic linked to the health crisis of Covid-19", the appreciation of the American dollar compared to the Gourdes (more Gourdes for 1 US dollar) hhttps://www.haitilibre.com/en/news-30563-haiti-news-zapping.html and the closing of the Haitian-Dominican border explain the 4% increase in monthly value of the food basket during of March 2020.

The average nominal cost of the food basket in March 2020 was around 1,960 Gourdes per person per month, or 9,800 Gourdes for a family of 5 compared to 1,880 Gourdes in February 2020 and 1,563 Gourdes in March 2019. Year-on-year over the previous 12 months, a 25% increase in the value of the basket is observed.

The markets of Port-de-Paix, Jérémie, Les Cayes, Jacmel, Ouanaminthe and Port-au-Prince are the most affected by this increase. It is mainly due to the rising prices of rice, beans, vegetable oil and sugar.

On the international market, there has been a relatively significant increase in rice prices. The export price increases for rice on the American market + 3% in January, + 5% in February and + 4% in March.

Nationally, in March 2020, the food basket increased by 4% monthly. This increase is reflected in all regional markets. The largest increases were observed respectively in the Cayes (+ 7%), Hinche (+ 7%), Croix-des-Bossales (+ 6%) and Jérémie (+ 5%) markets. In other regions, the cost of the food basket increased by 1 to 3%.

At an annual rate, the increase in the value of the basket during the month of March 2020 results from the increase in prices of rice (+ 34%), peas (+ 39%), sugar and vegetable oil (28 %).

The price of rice mainly increased on the markets of Jérémie (55%), Les Cayes (54%), Gonaïves (45%) and Port-de-Paix (35%). The bean market in Les Cayes (66%), Croix-des-bossales (58%), Hinche (54%) and Gonaïves (51%).

On a year-over-year basis, the value of the basket increases by 25%. This increase affects all regions. The largest increases were recorded in Port-de-Paix (34%), Jérémie (30%); Cayes (29%), Jacmel (28%), Ouanaminthe (27%) and Croix-des-Bossales. On an annual basis, the cost of the lowest food basket is observed at Fonds des Nègres (18%).

HL/ HaitiLibre