Dear BP,
As we close another year where evidence suggests the Bahamian economy has done well once again, what is clear is that we as a country still have more things to fix.
New investments, growth in tourism and more job opportunities for Bahamians are all clearly making it better for our people.
The single thing, however, that appears to create a drag on all this success is the inflation costs which some food store merchants appear to take advantage of by drastically inflating prices in this prosperous holiday season. And despite how expensive some holiday items are some merchants I have visited have completely sold out of their stock – COMPLETELY SOLD OUT!
To bring home the point of inflation, for example, the price of eggs, which is now above $6 per dozen, before the holidays was below $3. Perhaps this rise in price is due to the demand for baked goods over the holidays.
Or, in this case Turkeys, which, in the US, were going at $5 – $18 (15lbs – 21lbs), are being sold at the big local stores at around $50 to $85 with no justification for the inflation in costs. NONE! GREED OF THE MERCHANTS.
At the Farmer’s Market on Gladstone Road produce was sold out this past weekend (Saturday December 14th) as residents have run to local growers to avoid the inflated prices gripping the local food stores, which have, in some cases, tripled the prices for local produce in these stocked big stores.
I recall when Mr Schaeffer’s (Robin Hood) sold produce (along with milk and eggs) at a fraction of the prices of the local big stores. His store sold 5 lemons for $1 and, after the PLP was kicked-out of power back in 2017, the food store cartel kicked his business out of the market – all to further suppress Bahamians all the more with their demonic inflated prices on produce. Most people forget this, I am sure.
What is needed here is a strong Government intervention to cripple the food store cartel and beat back this war of high prices on Bahamian consumers.
We in this country must allow Farmer’s Markets to flourish. As we saw a few days ago $1.5 million government grants was given to local farmers. A popup market should be in every community in an attempt to beat down the overpriced competition.
Farmers’ popup markets should be opened daily adding eggs, milk and produce to beat back this hungry tide of inflated prices in these big stores, forcing them to stop the robbery of our wealth with their sharp prices on goods they know are marked up by 300% in some cases!
And if we do this at a scale where the People benefit, the row over food prices will be quickly ended and the big food store cartel will be left with no choice but to fall in line.
Signed,
S Duncombe
