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Food Prices and Food Security in Trinidad and Tobago

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Author Info

  • Christian Romer Løvendal

    (Agricultural and Development Economics Division, Food and Agriculture Organization)

  • Kristian Thor Jakobsen

    (Agricultural and Development Economics Division, Food and Agriculture Organization)

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    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.

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    File URL: ftp://ftp.fao.org/docrep/fao/010/ai134e/ai134e00.pdf
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    Bibliographic Info

    Paper provided by Agricultural and Development Economics Division of the Food and Agriculture Organization of the United Nations (FAO - ESA) in its series Working Papers with number 07-27.

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    Length: 26 pages
    Date of creation: 2007
    Date of revision:
    Handle: RePEc:fao:wpaper:0727

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    Postal: Agricultural Sector in Economic Development Service FAO Viale delle Terme di Caracalla 00153 Rome Italy
    Phone: +39(6) 57051
    Fax: +39 06 57055522
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    Web page: http://www.fao.org/es/esa/
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    Related research

    Keywords: food security; inflation; price; vulnerability; Trinidad and Tobago; markets.;

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    References

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    1. Abdulai, Awudu & Aubert, Dominique, 2004. "Nonparametric and parametric analysis of calorie consumption in Tanzania," Food Policy, Elsevier, vol. 29(2), pages 113-129, April.
    2. Block, Steven A. & Kiess, Lynnda & Webb, Patrick & Kosen, Soewarta & Moench-Pfanner, Regina & Bloem, Martin W. & Peter Timmer, C., 2004. "Macro shocks and micro outcomes: child nutrition during Indonesia's crisis," Economics & Human Biology, Elsevier, vol. 2(1), pages 21-44, March.
    3. Myers, Robert J., 2006. "On the costs of food price fluctuations in low-income countries," Food Policy, Elsevier, vol. 31(4), pages 288-301, August.
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