–Agriculture Minister warns industry players against price gouging

MARKET prices for vegetables, fruits and meat products appear to be returning to a more affordable cost during the ongoing Christmas season, but Agriculture Minister Zulfikar Mustapha warned vendors against increasing the cost of goods again.

The Guyana Chronicle on Sunday morning visited several municipal markets in Georgetown and spoke with vendors who confirmed the decrease in prices for some vegetables and meats. Vendors usually set their prices based on how much they paid for the goods; other factors are sometimes taken into consideration.

The price for a bundle of bora was $200 at several stalls, while the price for a piece of pumpkin varied from $340 to $460. Ochroes were priced at $200 per pound.
Meanwhile, a tray of eggs is priced at $1600 while chicken is priced at $460 per pound. At the Guyana Marketing Corporation (GMC) a tray of eggs is priced at $1200 while chicken is priced at $360 per pound.

Beef at several stalls was being sold at $460 to $1000, while pork was being sold at $640 to $700 per pound.

Speaking with this publication, vendor at the Bourda Market, Annie (only name given), highlighted that prices for many commodities are stable. She, however, said some fruits and vegetables are “scarce” on the market and within the new week consumers may see prices fluctuating due to this.

“Some fruits right now scarce because of the rain, so prices might go up later in the week, ’cause you know a lot of people going to be shopping and everybody going to want their grapes and apples and them things that for Christmas,” Annie said.

Bananas are being sold at $200 per pound, a parcel of four apples is being sold at $400, while grapes are being sold at $1200 per pound.

Ivan, a vendor at the La Penitence market, said sales have been slow in recent weeks but he anticipates an increase in business within the week.

“The market right now fluctuating due to the increase of rainfall that has created a damper with the sale…apart from that, sale is good,” Ivan said.

He added, “I project that as the time winds down, people will come out in their numbers and sales will pick[up].”

Agriculture Minister Zulfikar Mustapha, in an invited comment, noted that the Ministry of Agriculture through the GMC has been offering commodities at lower prices to maintain stability on the markets.

Beyond this, however, he warned vendors that his ministry will be monitoring the market prices in the coming days. As such, they should desist from price gouging.

“We are monitoring the markets, I have staff that are going around and they will be looking at people who are doing those things to take action. It is a very serious matter and we are trying to keep the prices stable,” Minister Mustapha said.

INTERVENTIONS
The efforts to keep prices stable that Mustapha alluded to are part of the interventions implemented by the government to cushion the impact of global price increases and a resulting, high cost of living in Guyana.

Some $7.5 billion was expended on the COVID-19 cash grants. Under this programme, each household in Guyana was given a one-off grant valued at $25,000.

President, Dr Irfaan Ali had indicated in January 2022 that under the People’s Progressive Party/Civic (PPP/C) administration, persons in each of the 10 administrative regions benefitted from the programme.

He said that the programme was “…injecting critical liquidity into the economy and providing a cash lifeline to households, so many of which were thrown into distress as a result of the pandemic.”

Additionally, cash grants have been distributed to sugar workers, private cane farmers and fishermen.

Further, government distributed $1 billion in fertilisers to farmers across Guyana as a means of absorbing the rising global costs for the commodity and preventing the costs from being passed on to consumers.

“The cost of a fertiliser has affected the production cost[s] for farmers which have translated into increased prices in the markets. In order to cushion the impact of the rising cost of fertiliser on farmers, and to limit the pass-through to food prices, my government will be purchasing $1 billion dollars’ worth of fertiliser for free distribution to farmers for use in their planting activities,” President Ali had declared in May, 2022.