Basic food basket prices drop 38.5 percent

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Basic food basket prices drop 38.5 percent
Basic food basket prices drop 38.5 percent

Africa-Press – Angola. The reference prices of the Strategic Food Reserve (REA) for seven of the main products of the basic basket, at national level, in the week of August 1 to 7, 2022, registered a decrease of 38.5 percent, with an overall average of 16,801 kwanzas, compared to November 2021, against the current 10,329 kwanzas.

According to REA data, wheat flour weighing 25 kilos (kg) dropped 64.4 percent compared to November 2021, when it was quoted at 23,033 kwanzas, against the current 8,200. Cornmeal now costs 5,950 kwanzas, against 13,800, a drop of 56.9 percent.

The 50 kg bag of sugar dropped 21.7 percent, reaching 18,950 kwanzas, against the previous 24,200. The 25 kg “Thai” rice now costs 7,000 kwanzas, against 11,737, a variation compared to November 2021 of 40.4 percent, while the Myanmar rice also weighing 25 kg has dropped by 34.0 percent, with a cost of 6,600 kwanzas, against 10,000.

Soybean oil, a box of 12 bottles, a liter currently costs 11,100 kwanzas, against 17,450, a drop of 36.4 percent. The 25 kg “Pinto” beans dropped to 16,000 kwanzas, against the previous 24,000, a variation of 33.3 percent. The 10 kg chicken thigh box, had a drop of 23.0 percent, with a cost of 7,850 kwanzas, against the 10,190 registered last November.

Among the prices that registered a sharp decrease between November 2021 until now, wheat flour stands out, which fell by 64.4 percent and cornmeal with 56.9 percent.

International Market

In the international market, the behavior of the prices of products of the basic basket was verified a reduction of 1.2 percent in relation to the previous week.

Compared to November 2021, there was a decrease of 2.3 percent, influenced by the effects of Covid-19 and the war between Ukraine and Russia.

Also noteworthy is the vertiginous rise in fuel, energy, transport and logistics prices.

On average, in the international market, prices reached 299 dollars, a variation of -2.3 percent, compared to November 2021.

Beans, with an increase of 24 percent, are the main highlight in the increase in prices on the international market, with a value of 69 US dollars, rice is costing 17 dollars (-17%).

Sugar, which is costing Usd 18, fell by 12 percent) and wheat, Usd 795 (-7%), are the ones that stand out in this regard, compared to November last year. Corn is currently quoted at USD 597 (2%).

The Strategic Food Reserve intervenes to facilitate access to food at competitive and fair prices, avoiding scarcity and price speculation.

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