Thursday, December 06, 2007

Rising Food prices of concern to CARICOM leaders

Business: News in the Caribbean -

there's been a lot of wailing about inflation and rising food prices, especially here in Trinidad and Tobago. One thing that I keep hearing, that never fails to astound me is "Milk is too expensive. The Government should lower the price"
So - does this mean that the government has a milk farm, and a processing plant, distribution facilities, and that they are selling the milk from a Government store? That's the only way that they can really lower prices - and since that isn't so... well - what can the Government do? There are already few or no taxes and duties on imported milk, for example. But if there is a worldwide shortage of milk, (as there is) and the price goes up, how can the T&T Government "reduce" the price?
I think that many of my conterraneos are woefully ignorant of the realities of a global capitalist society.
But this article does a good job of explaining the external forces that are pushing food prices up.

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