MINISTRY OF LEGAL AFFAIRS
CONSUMER AFFAIRS DIVISION MONTHLY RETAIL PRICE BULLETIN
ON FOOD AND OTHER RELATED ITEMS
AUGUST 2008
This Bulletin presents data highlights on the average price movements over the period July to August 2008 for:
a. selected food and other items available at supermarkets;
b. fruits, vegetables, fish and meat available at the municipal markets; and
c. fresh chicken available at poultry depots
1.0 GENERAL PRICE MOVEMENTS – JULY TO AUGUST 2008:
a. Selected Food and other Items available at Supermarkets:
Overall, the average price of selected food and other items available at Supermarkets throughout Trinidad increased by 2.19% from July to August 2008, reflecting an incline in prices of 0.54 percentage points from the previous reporting period of June to July 2008.
This increase was brought on as a result of an increase across the board of all item groupings:
tubers and similar produce (16.16%), cereals (2.15%), oils and fats (1.92%), dried fruits (1.76%), meat (1.53%); juices and preparations for infant use (1.19%), condiments and sauces (1.16%), non-alcoholic beverages (0.65%), fish (0.63%), dairy products (0.45%), legumes (0.43%), toiletries and cleaning products (0.40%) and sweeteners (0.11%).
Despite these increases across the board of all item groupings, the increases recorded in August for oils and fats, cereals, legumes, sweeteners and toiletries and cleaning products were less than those recorded in July 2008. Chart 1 refers.
b. Selected Fruits, Vegetables, Fish and Meat available at Municipal Markets:
The month of August witnessed a slight increase of 0.46% in the overall prices of market items from that of July 2008.
Driving this increase was the price of meat and fish which increased by 4.81%. Vegetable prices, amidst much expectation of further price increases (from July) due to continuous heavy rainfall and subsequent flooding in several agricultural farming districts, fell by 0.24% during the period under review. Chart 2 refers.
c. Fresh Chicken available at Poultry Depots
The month of August witnessed the return to “normal price ” for live chicken as a result of depletion in the excess supply of birds which existed for the past two months. The average price (per pound) increased by 37.1% while the pluck and gut fee increased by 2.8%.
2.0 SPECIFIC PRICE MOVEMENTS– JULY TO AUGUST 2008:
a. Selected Food and other Items available at Supermarkets:
Price Increases:
The following is a list of volatile items during the period July to August 2008.
| Item |
July |
August |
$ value increase |
% increase |
Irish Potatoes (454g)
Natural Waters – Dasani (20 oz)
Whole Chicken – Frozen (454g)
Baking Powder (455g)
Baking Powder (225g)
Mustard Mabel (370g)
Macaroni (400g)
Garlic (454g)
Onion (454g)
Chicken Thighs – Chilled (454g)
Coffee Instant (100g)
Drumsticks – Chilled (454g)
Chicken Legs – Chilled (454g)
Corn Oil (1.42L)
Corn Flakes Imported (200g)
Goat Leg (454g)
Aerated Beverages – Soft Drinks (20 0z)
|
2.46
2.51
11.24
6.19
3.65
5.70
5.05
4.74
2.70
11.16
20.54
13.25
10.30
33.58
10.51
20.91
3.18 |
3.22
3.01
12.92
6.94
4.06
6.30
5.52
5.17
2.93
12.10
22.15
14.16
10.99
35.47
11.08
22.04
3.35 |
0.76
0.50
1.68
0.75
0.41
0.60
0.47
0.43
0.23
0.94
1.61
0.91
0.69
1.89
0.57
1.13
0.17 |
30.89
19.92
14.95
12.12
11.23
10.53
9.31
9.07
8.52
8.42
7.84
6.87
6.70
5.63
5.42
5.40
5.35 |
Notable price increases were recorded for items belonging to the item grouping of tuber and similar produce, in particular, irish potatoes, garlic and onion. Camacho Brothers and Company, one of the leading local distributors for Irish potatoes, garlic and onion informed that these price increases are not unusual at this time of the year owing to the fact that it is the end of the crop in Canada and the USA. Other local distributors while alluding to this explanation also attributed these price increases to the unusually heavy rainfall in both Canada and the USA which have delayed the start of the harvesting period.
Price Decreases:
The following items showed notable decreases in price:
Item |
July |
August |
$ value decrease |
% decrease |
Goat Shoulder (454g)
Nescafe Instant Coffee (100g)
Goat Stew (454g)
Grapefruit Juice – Other (1L)
|
18.30
22.23
18.46
12.04 |
16.00
20.43
17.43
11.36 |
2.30
1.80
1.15
0.68 |
12.57
8.10
6.23
5.65
|
It is significant to note that the items reflected above span a range of item groupings and therefore no one item grouping is to be credited for the price decreases. At the same time there are no industry explanations or otherwise to account for these downward price movements. Presumably therefore, these decreases are normal market adjustments based on competitiveness in the sector.
b. Selected Fruits, Vegetables, Fish and Meat available at Municipal Markets:
Price Increases:
Of the few items showing price increases, the most significant were : Tomatoes - medium (454g) - 21.11%; Tomatoes - small (454g) - 18.46%; Fish – Carite (454g) – 19.02%; Cucumber (454g) – 15.42% and Chive (bundle) – 13.59%.
Based on reports carried in NAMDEVCO’s Market Watch, these increases are the result of reduced volumes of produce coming on the market as a result of heavy rainfall and flooding in several main agricultural districts.
Price Decreases:
Despite periods of inclement weather during the month of August, several market items were sold at prices less than the previous month. Among the most significant were Bodi (bundle) – 23.01%; Sweet Pepper (454g) – 20.63% and Lettuce (large) – 12.66%.
While there are no particular explanations for these movements, it is believed that Lettuce was sold at reduced prices for fear that supplies would remain given that this item is known to be affected by flood waters.
c. Fresh Chicken available at Poultry Depots:
Live Chicken prices increased from $4.40 in July to $6.03 in August, 2008 reflecting an increase of 37.1%. The associated pluck and gut fee continued to show evidence of a slow upward movement, increasing by $0.23 from that of July.
3.0 OUTLOOK FOR SEPTEMBER 2008:
From all indications, both local and international , food prices on the whole are expected to continue to increase with consumers facing the brunt in the purchase of items belonging to the item groupings of Tuber and Similar Produce, Cereals and Oils and Fats.
Given present weather conditions coupled with the upcoming festivities associated with Eid and Divali, vegetable prices are likely to continue to be on the incline. At the same time, industry sources reveal that the return to the $5.00 - $6.00 per pound price range of fresh chicken is also likely to persist despite expectations of a reduced demand from mid September to the end of October, 2008 when the celebration of these two festivals are to take place.
Research and Project Management Unit
Consumer Affairs Division
8th September 2008.
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