WILLEMSTAD - A sector study by the Fair Trade Authority Curaçao (FTAC) reveals that the prices of potatoes, vegetables, and fruits in Curaçao are significantly higher than in the region. While prices in Aruba have increased by forty percent and in Bonaire by fifty percent, consumers in Curaçao have to pay 300 percent more.
Curaçao is largely dependent on imports, with ninety percent of food coming from abroad. The high transport and storage costs, combined with import restrictions and inefficiencies in the local supply chain, contribute to this increase. Additionally, the limited availability of locally grown products makes the island vulnerable to global price fluctuations.
What stands out is that while inflation is a global issue, the price increase for these basic products in Curaçao far exceeds the rise seen in trading partners. This increases financial pressure on households and raises costs for the hospitality and tourism sectors.
For example, a kilogram of potatoes in Curaçao costs on average three times as much as in Aruba, and tomatoes are often four times more expensive than in Bonaire. The demand for locally grown products is growing, but production remains small due to high costs for water, energy, and labor.
Recommendations
The FTAC recommends a thorough evaluation of the current laws and regulations, such as import policies and price regulation. The report emphasizes that reforms are needed to reduce these price differences and improve access to affordable food.