Cuenca Residents Face Rising Market Prices, Azuay Governor Warns Against Speculation

Residents in Cuenca are currently facing a noticeable increase in the prices of various products across the city's markets. This trend has been observed for several weeks, impacting both individual shoppers and local businesses.

Sofía Arévalo, who owns a store on Avenida 10 de Agosto in Las Acacias, reports investing significantly more to stock her business. Previously spending around $70 at the Feria Libre for vegetables, greens, fruits, and other items, she now spends over $100 per visit. To mitigate losses, Arévalo has either increased some of her selling prices or reduced the quantities offered to customers.

Specific examples of price increases include apples, with a box rising from $28 to $34. A dozen pineapples increased from $22 to $24, a box of blackberries from $4 to $5.50, and a tray of eggs from $3.10 to $4.50. Rice, a staple, has also seen a considerable jump, with a quintal now exceeding $61, up from $49 three months ago.

Gladys Ortega, who operates a small restaurant in the El Batán sector, confirms that prices have risen notably in the last week, increasing her operational costs. Despite this, she maintains her lunch price at $2.50.

A recent tour of the Feria Libre confirmed these rising prices. Merchants there largely attribute the increases to products from the Coast, such as rice, sugar, and seafood. This is linked to challenges faced by some sectors due to the El Niño phenomenon. Carmen Cedeño, a seafood vendor, noted that seafood prices have increased by approximately 50 cents per pound.

Patricio Peña, president of the Cooperativa Señor de la Buena Esperanza de El Arenal (Feria Libre), indicated that price increases are generally influenced by seasonal changes and climatic conditions.

In response to these concerns, Xavier Bermúdez, the governor of Azuay, has stated that intermediaries found to be speculatively increasing prices will face sanctions. A confidential complaint window has been established at the Intendencia General de Policía for individuals affected by speculation. The Ministry of Economic and Productive Development, through its Agricultural Public Information System (SIPA), publishes reference price ranges for agricultural products to help prevent speculation. In Cuenca, these reference prices are collected at the El Arenal Wholesale Market.

Andrés Carrillo, district director of the Ministry of Economic and Productive Development, noted that as of now, no significant damage to agricultural production in Azuay province due to the El Niño phenomenon has been reported by technicians in the field.

Sources: elmercurio.com.ec.

Image: AI-generated illustration.