Policies to Strike Balance in Local Beef Supply
Dr. Osmond Martinez, the Chief Executive Officer in the Ministry of Economic Development, weighed in on the cattle export situation in country. As we told you last night, the demand for cattle in neighboring Guatemala and Mexico has caused the price of beef on the local market to skyrocket. Cattle ranchers are reportedly sending their cattle across the borders where buyers are willing to pay top dollar. In Belize, consumers are now faced with paying higher prices or simply taking beef off their menu. Dr. Martinez says that necessary balance can be struck with new policies on trade in this industry.
Dr. Osmond Martinez,
Dr. Osmond Martinez, C.E.O., Ministry of Economic Development
“First of all you have to understand the market. You have to understand the supply and demand. And so, we will need to understand what is the demand in Belize of the consumption, in terms of cattle. But, these are things we are learning. It was no where forecasted that the demand to export would be so high. So, it is a learning curve as well, but it needs to be rectified and some policies will need to be introduced through Cabinet in order to protect the local consumers.”
Reporter
“In terms of trade policy is there possibility or probability that a government can say, we the cap the price pan beef. We are also putting in place policy to ensure you do supply the local market?”
Dr. Osmond Martinez, C.E.O., Ministry of Economic Development
“You know, the private sector is an issue that has a different dynamic. You cannot be a dictator, or we do not have a government that is a dictator to say this is the price, this is the ceiling price. However, I believe that there needs to be a way of how we should look at it as a government and say we need to protect the consumers, especially noting that more than fifty percent of our populations live below the poverty line. This is the 2018 statistics. We are still the pandemic and I believe the unemployment rate is much higher. Although we have done a lot to hello with unemployment, still I do believe that there is a need to see how we can put a ceiling cap on the price of beef production.”
