Vice President, Dr Bharrat Jagdeo recently acknowledged that while food prices have been climbing, citizens can be assured that the government is actively working on long-term solutions, including plans to significantly reduce importing essential items like onions and red beans.
Speaking at his press conference, Jagdeo cited several global factors contributing to rising costs, including the COVID-19 pandemic, surging oil prices, and increased freight charges. However, he reminded that the government had taken major steps to cushion the impact on citizens by keeping essential utility costs stable and subsidizing fuel.
“So, we’ve been challenged with food prices but a lot of it is because freight went up, there is import shock and we import a lot of the food prices and sometimes it fluctuates on the market…,” he said.
To address this, Jagdeo said efforts are underway to boost domestic production of critical food items.
“We’re looking now for the supply response. If we now have to bring in bulk goods and the freight went up, then we have to produce that here like onions, we’re going to do that.
“In two years’ time I think we can replace all of the onions, we’d be able in another two years to do the same with all the black eye and the red beans that we are importing….” said the Vice President.
Further, the Vice President highlighted plans to increase local production of soya and corn to support the nation’s agro-processing industry, including cooking oil production, which he says would help ease prices on a national scale.
