Government must work harder to create a policy that will reduce the import bill and give the country food security, says agricultural economist and consultant Omardath Maharaj.
"In the current and anticipated economic circumstances facing T&T, we cannot deny the fact that the cost of living and economic hardship is on the rise. It is therefore a necessity for policymakers to do more towards preserving food and nutrition security at the household level, protect and strengthen the men and women who feed the nation and, to act aggressively to stabilize sentiment and build consensus on the way forward," he said in a statement.
Maharaj said although T&T is not at "crisis level" with its food supply, other social sectors must also join Government in creating solutions.
"Being import-dependent with a burgeoning annual food import bill of approximately $6 billion, declining foreign exchange reserves and increasing pressure on exchange rates, and widening current account and fiscal deficits; we must focus on our food independence sooner than later," he said.
"In addition to agriculture sector policy and targets, greater emphasis must be placed on actions that citizens can take for themselves, at home or in public spaces, which brings the greatest return within our environment–both economic and ecological. The outcome of which, possibly not anticipated by some, will be irreversible."
He said the current scenario comes at a time of changes internationally.
"Regional economies and industries, which were once the mainstay, are being forced to do business differently notwithstanding the inherent providers of economic success albeit agriculture, energy and tourism. A major factor relatively untapped for Caricom is strategic location vis-�-vis emerging economies, trade routes and significant trade infrastructure development in Latin America; a global hub."
Maharaj referred to Prime Minister Dr Keith Rowley's address to the nation on December 29, 2015, when he said measures will be taken to stabilize the economy and also diversify it. The Prime Minister had also encouraged citizens to buy locally made products.
"While farmers, fishers and niche market operators continue to encourage citizens to be local and indigenise their spending and consumption, we must recognise that they cannot go at the mammoth task alone," he said.