Food Prices and Food Security in Trinidad and Tobago

Christian Romer Løvendal and Kristian Thor Jakobsen
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Christian Romer Løvendal: Agricultural and Development Economics Division, Food and Agriculture Organization
Kristian Thor Jakobsen: Agricultural and Development Economics Division, Food and Agriculture Organization

No 07-27, Working Papers from Agricultural and Development Economics Division of the Food and Agriculture Organization of the United Nations (FAO - ESA)

Abstract: The economy of Trinidad and Tobago is booming, in particular as a consequence of increased energy production and the historical high oil prices. Whilst general inflation has remained relatively low for much of the present economic boom, substantial increases in retail food prices have been observed, in particular since 2005. This paper looks at the development of retail food prices, its causes, the potential impact thereof in terms of food security and possible policy options for addressing this. It concludes that whilst households with low income are the groups most affected by the food price increases and will continue to be so in the wake of increasing international prices, it is unlikely that the price increases in isolation will throw off Trinidad and Tobago’s path towards meeting the MDG 1 hunger target and bringing the share of undernourished people down to 6.5% by 2015. However, food security problems will remain, in particular related to overweight and obesity caused by unbalanced diets. Analysing the food marketing systems according to domestic production system (export versus domestic consumption), product type (fresh versus frozen and processed) and origins (imported versus domestic), the paper identifies potential causes of price increases. These include increases in price margins, international price changes and market conditions that vary greatly for different commodities, ranging from competitive to oligopolistic. Finally, the paper identifies areas of potential interventions related to direct price interventions, social protection, agricultural investment and trade facilitation.

Keywords: food security; inflation; price; vulnerability; Trinidad and Tobago; markets. (search for similar items in EconPapers)
JEL-codes: E64 O20 Q17 Q18 (search for similar items in EconPapers)
Pages: 26 pages
Date: 2007
References: View references in EconPapers View complete reference list from CitEc
Citations: View citations in EconPapers (1)

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