The ministry of trade has said the coronavirus pandemic has caused a reduction in the supply of rice and other food commodities causing a rise in prices along the way.
“These increments are caused by both the exogenous and some local factors,” the trade ministry said in a statement on Tuesday.
Findings by The Fatu Network have shown how prices for food commodities have jumped sharply in recent weeks. There is shortage of chicken leg in the country and the trade ministry is saying there is a price increase for the product by up to 18%.
The trade ministry said: “Exogenously, the general increase in the prices particularly for rice and edible oil is a global phenomenon as a result of the COVID-19 pandemic.
“These products are mainly from South East Asia such as China, Malaysia, Pakistan and Thailand, some of whom have import export restrictions. This has resulted to reduced supply of these aforementioned commodities and thus the resultant price increase.”
According to the trade ministry, recent months have also seen a price increase in the global container market from an average of $2,000 per 40ft container to up to $9,000 from Asia to Europe as of January 18.
As a result, the shipping lines operating in The Gambia have increased the freight cost to Banjul since November 2020 from $5,000 to $11,000 per 40ft container, according to the trade ministry.
