Ministry of Economy publishes December 2023 “Agricultural Prices: Analysis and Monitoring” report.

According to the report, Creole avocados were the product that showed the biggest decline in prices, 10.6% compared to the previous month.

Santo Domingo, Dominican Republic (January 2023). The Ministry of Economy, Planning and Development publishes the “Agricultural Prices: Analysis and Monitoring” report related to December 2023, which includes price variation observed in a list of major agricultural commodities: Poultry, Cereals, Vegetables, Pulses, Fruit Trees. , Musaceae, cattle, roots and tubers.

On a monthly basis, the report compiles prices in supermarkets and retail markets, allowing for monthly comparisons and trend analysis through wholesale price indices for agricultural and livestock products.

A release by the Directorate of Sectoral Economic Analysis of the Sub-Ministry of Economic and Social Analysis indicated that of the 46 agricultural commodities in the reporting list, 37.0% had decreased in their prices compared to the previous month.

On average, reductions were 2.4% and were observed in all product categories except cereals.

According to the report, Creole avocados were the product that showed the biggest decline in prices, 10.6% compared to the previous month. Apart from this, it gives an accumulated variance of -7.1%.

Among fruit categories, different product categories recorded price cuts in four of its seven products, he said. The average decline was 4.1%.

It establishes that in pulses, different product categories have recorded price decline in three of its five products.

Similarly, in roots and tubers categories, different classifications showed price reductions in two of their five commodities.

Other standout price declines were green bananas (5.6%), cabbage (4.8%) and watermelon (2.9%). This indicates that Cubanella chili provided the highest price increase of 27.5%.

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Market comparison

According to the report, during the month of December, average prices of some major agricultural commodities in retail markets and supermarkets showed significant differences.

Specifically, it points out that supermarket prices for pinto beans are 26.5% higher than the market price.

He points out that smaller gaps are seen in items like processed chicken, elevated rice, smoked chops and Creole butter. In the case of garlic, green bananas and potatoes are priced 14.3%, 9.6% and 0.2% higher in markets than supermarkets respectively, he adds.

Government Actions

Regarding the monitoring of agricultural policies, the report said that last December, the Ministry of Agriculture distributed organic pesticides to eliminate pests in crops, and various departments and service providers paid RD$792 million pesos to 333 producers.

Also, the Ministry of Agriculture issued a RD$70 million check for the development of the banana sector.

Similarly, the Dominican government, through INESPRE, paid the Dominican Poultry Association 80 million pesos at 50 pesos per unit for the slaughter of 2 million hens with the aim of stabilizing egg and poultry prices. Avoid the collapse of the local market and that sector.

Meaning of the month

The “Agricultural Prices: Analysis and Monitoring” report for December 2023 shows green bananas as the commodity of the month.

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