WILLEMSTAD - The prices of potatoes, vegetables, and fruits in Curaçao have skyrocketed by nearly 400% since 2010, according to a study by the Fair Trade Authority Curaçao (FTAC).
The island’s food sector relies heavily on imports, with only 10% of its produce coming from local sources. This dependency, combined with fluctuating international import costs and local obstacles like outdated regulations and a moratorium on new minimarkets, has contributed to significant price volatility.
The study also highlights the dominance of large supermarkets, which creates challenges for smaller businesses to compete fairly in the market.
To address these issues, FTAC recommends reviewing existing price regulations, reconsidering the moratorium on new stores, and encouraging greater competition within the food sector. The organization also suggests aligning government policies with modern economic and technological trends.
"Intensive monitoring of the food market is essential, and deeper research is needed to identify factors unnecessarily driving up prices compared to our trading partners," FTAC emphasized.
The findings underscore the urgent need for systemic changes to improve affordability and fairness in Curaçao’s food supply chain.