Prices of some types of fresh produce have doubled at the Southern Wholesale Market in Debe following last weekend’s extensive flooding and vendors also believe price hikes and price gouging are keeping customers away.
When a T&T Guardian team visited the market this week, the usual traffic and crowds were non-existent.
Expect fish prices to increase if State-owned Petrotrin fails to fix a ruptured oil well in the Gulf of Paria.
The well, located approximately 4.5 nautical miles off Orange Valley, Carapichaima, has been spilling oil into the sea since Thursday, posing serious risk to marine operators.
Members of the Orange Valley Pirogue Fishermen’s Association met with yesterday with Couva North MP Ramona Ramdial and expressed concern about the length of time it was taking to stop the spill.
Oil prices climbed on Monday, pushing futures to their highest levels in more than a month, as expectations grow for an extension to the OPEC-led production cut agreement into the first quarter of next year.
June West Texas Intermediate crude tacked on 32 cents, or 0.6%, at $50.64 a barrel.
The contract expires at the session’s end, with July crude which traded at $51.04, up 37 cents, or 0.7%, set to become the front-month contract. July Brent crude LCON7, +0.65% the global benchmark, rose 24 cents, or 0.5%, to $53.85 a barrel.
Fish vendors in Cocorite and Chaguaramas say they will not be raising their prices as yet for the Lenten season.
Fish is in high demand during this fasting period however the vendors say at least for now the prices will remain the same.
However, they tell CNC3 that when it gets closer to Easter and the demand increases prices will be increased.
One vendor has said, for example, that a pound of King fish which is $50 a pound could go up to $65 closer to Easter.
We'll have more in the CNC3 News at 7pm.