DILI, 02 june 2022 (TATOLI)– The United Nations World Food Program (WFP) and the Government’s Ministry of Agriculture and Fisheries (MAF), and the Ministry of Finance in Timor-Leste, launched a report on monitoring market prices during the impact of Covid-19, global conflict and climate change which affects the prices of basic commodities in the market.
“This important information will determine our priority needs, and our future interventions,” said Dageng Liu, Representative of WFP in Timor-Leste (TL) said during the launch of the regular market price report in City 8, Manleuana, this Thursday.
Market studies were conducted in the three municipalities of Baucau, Manufahi, and Bobonaro to understand how markets can help households achieve food security and meet their essential needs and assess the feasibility, risks, and impacts of interventions, to understand how local markets can be strengthened.
WFP together with the General Directorate of Statistics at the Ministry of Finance and MAP implemented weekly price monitoring across the main markets of 12 municipalities (Ainaro, Aileu, Bobonaro, Baucau, Dili, Ermera, Lautem, Liquica, Manatuto, Viqueque, Covalima, and Oecusse), to monitor the impact of Covid-19, Global Conflict, and Climate Change on market prices.
The report said that the price of cooking oil also remains alleviated however, the lifting of the export ban provides some relief
Local rice prices fell for the first time in three months, as producers supplied the domestic market. Imported rice prices slowed in May 2022, reflecting high stocks in the domestic market.
Rice production is estimated by MAP to increase by 18 percent compared to the previous season. This is likely to maintain the downward pressure on the price in the short term.
“WFP will continue to provide support to the Government of Timor-Leste in its global impact response and recovery plans,” Dageng Liu explained.
The Deputy Minister of Trade and Industry (MTCI), Domingos Antunes Lopes, thanked WFP and MAP, saying they have accomplished the study of market prices that will support the Government, especially the Ministry of Tourism, Trade, and Industry to carry out monitoring.
“This is a very important instrument to control the price of domestic food needs,” he said.
Likewise, the Minister of MAP, Pedro Reis responded to the report as valuable information because it discussed the impact of Covid-19, climate change, and the conflict between Ukraine and Russia which resulted in increased market prices in various sectors.
“With this research, it can be used as a benchmark by relevant Ministry to orientate better plans to eliminate price manipulation,” said Pedro Reis.
On the other hand, the UN Representative in Timor-Leste, Roy Trivedy, explained that the support for this report was funding from the UN itself in the Sustainable Development Goals program.
WFP is the recipient of the 2020 Nobel Peace Prize. The world’s largest humanitarian organization saves lives from emergencies and uses food aid to build paths for peace, stability, and prosperity for people recovering from conflict, disasters, and the effects of climate change.
Journalist: José Belarmino De Sa
Editor: Nelia B
