Despite claims of overproduction by the Ministry of Agriculture and a plantain producers’ association in Castañuela, the price of plantains at the consumer level remains stubbornly high, contradicting basic economic principles, El Caribe reports.
Typically, when supply exceeds demand, prices should decrease. However, the significant gap between farm-gate prices and retail prices suggests that other factors, such as speculation and a long supply chain, may be at play.
El Caribe reporter surveyed major supermarkets in the capital city and found that the price of a single plantain ranged from 18 to 26 pesos, with some outlets selling them for as much as 30 pesos. Prices in local grocery stores were even higher, ranging between 30 and 40 pesos. These prices are consistent with long-term trends, indicating that the purported overproduction has not led to the expected price reductions.
Recent “Fair Basket” reports by ProConsumidor, a consumer protection agency, corroborate these findings. The reports indicate that the average price of a green plantain in the Greater Santo Domingo area is between 19.69 and 21.37 pesos.
Approximately 70% of the country’s plantain production is concentrated in the dry regions of the Central Cibao, while the remaining 30% comes from the Barahona and Northwest Line regions.
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El Caribe
DR1 News
5 November 2024