Panama: Rice prices may rise slightly by year-end due to El Niño; Naviferias planned

Panama could experience a slight increase in rice prices toward the end of the year, primarily due to the effects of the El Niño phenomenon. The climate conditions associated with El Niño are expected to impact crop production, particularly for harvests that rely heavily on water availability.

Nilo Murillo, the general director of the Institute of Agricultural Marketing (IMA), revealed this outlook during a provincial council meeting in Herrera. He explained that El Niño might create price pressures on essential goods, especially those directly dependent on water. Despite this potential challenge, Murillo assured that the IMA would explore alternatives to mitigate significant impacts on consumers' budgets.

To counter potential price hikes and support citizens, the IMA confirmed that its "Naviferia" program will proceed as scheduled, commencing in early December. This initiative aims to provide affordable food options during the holiday season. The program plans to distribute approximately 500,000 Christmas boxes nationwide, including a new box designed to supplement holiday meals.

The IMA is currently finalizing contracts with agro-industrial companies for product acquisition, with agreements expected to be signed by October. This timeline ensures that all preparations will be complete for the fairs to begin in the first week of December. The Christmas box will be available for $15, and Murillo advised the public to save and prepare to take advantage of these offerings. He also emphasized the importance of provincial councils in coordinating actions and finding solutions for the agricultural sector and consumers.

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The Naviferia is not being touched by anyone, the president approved it.