Herald: Caribbean trade harmed by U.S. woes
The weakened U.S. dollar and high oil prices are wrecking havoc on the fragile Caribbean island trades, cited a news report in Thursday’s Miami Herald.
“As higher oil prices spike costs in South Florida and elsewhere in the United States, the Caribbean is being hit hard,” the newspaper said. “The cost of importing goods such as basic food items — bread, eggs, milk, meats and produce — has risen by up to 40 percent in the past year alone.
“The effect on the Caribbean is rebounding to South Florida, where wholesalers, truckers, freight consolidators and others who make a living off Caribbean trade are reporting significant drops in sales among their island customers,” the newspaper added.
The Herald also reported that some island nations, such as Jamaica and Antiqua, have either eliminated or reduced some import tariffs to help keep some commodity costs down. Haitian government officials are concerned that the region’s economic downturn may exacerbate the potential for famine on the island.
One freight consolidator interviewed by the newspaper said his 40-foot container rates have gone up by $500.
Herald: Caribbean trade harmed by U.S. woes
