Antigua and Barbuda is seeking new food supply deals in Europe and South America. Prime Minister Gaston Browne says the move could lower food prices.

The government aims to lower consumer costs nationwide. It also seeks protection from rising tariffs associated with North American imports.

Browne discussed the issue on Pointe FM on Saturday. He said officials are already pursuing alternative markets.

In addition, the government is close to finalising a new transshipment arrangement. Browne believes the deal could significantly reduce food costs.

“We are about to conclude a transshipment deal as well, which will open up other markets in Europe and South America,” Browne said.

The Prime Minister explained that global tariff increases continue to create pressure. These increases could raise the cost of imported goods.

He warned that higher United States tariffs would affect Antigua and Barbuda directly. Prices could rise if tariffs increase by 10%, 15%, or 20%.

“If the United States increases tariffs by 10%, 15%, or 20% on countries that we buy from, automatically our prices will increase,” Browne said.

Because of this, the government started exploring other supply options. Browne said the country now needs alternative markets.

“So it’s not that we want to go elsewhere now. We’ve been forced to look to other markets,” he added.

Officials recently reviewed pricing from possible suppliers in new regions. According to Browne, some products could cost much less.

He said price studies showed possible savings of up to 40%. These reductions could help lower food bills for consumers.

“The analysis of the prices is such that they can get up to a 40% reduction,” Browne said.

The Cabinet has already issued instructions to the Central Marketing Corporation. Officials want all savings passed directly to consumers.

“The instructions of the Cabinet are to the ministry and to CMC that those savings should be passed on to consumers,” Browne said.

The government also wants to improve food security nationwide. In addition, officials want to reduce dependence on limited suppliers.

“We’re looking at all possibilities to not only reduce the cost of everything but to make sure we get good quality products from other markets,” Browne said.

Browne believes residents could benefit within months. He expects cheaper alternatives to enter the market soon.

“Hopefully, within the next few weeks or months, Antiguans and Barbudans will have some alternatives that will help to drive down the cost of living,” Browne said.