The worst US drought in 25 years has sent the price of wheat, corn and soy beans rocketing with an inevitable effect on the price of the canasta, Panama’s basic food basket.
The poor of the country will be hardest hit, but the effect will be felt in the wallets of even the well to do.
Central American Data reports on an article in Nacion.com listing the rapid upward changes in the international price of in the last month.
Corn went from $572.88 per metric ton, on June 2r, to $814.30 a ton at the close of Tuesday on the U.S. stock market. That is means increase of 42%."
Wheat was trading at $702.63 a ton on June 24 and Tuesday closed at $915.50. In this case the increase in the last month was 30%."
The international price of soy beans went from $1,453.75 a ton on June 24, to $1,696.