Prices of Foods in Bulgaria Increase This Fall
2012-07-25 16:26:29
After the hot summer, the prices of foods in Bulgaria might start growing this fall.
The price of bread has already increased a little, and the prices of the other staples are expected to follow suit in September. This became clear from a statement of Agriculture Minister Miroslav Naydenov after a meeting of the Regional Development Council.
He explained the higher price of bread with the record-high wholesale price of wheat and the increasing prices of electricity and natural gas. In the following weeks Minister Naydenov is expected to call a meeting of the Council for the Grain which to discuss possible increase in the price of forage, which may trigger an increase in the retail prices of meat and dairy products.
The dry summer is the other culprit for the expected higher prices of foods in the autumn, as the drought may damage the corn crop.
Russia and the USA, two of the world's largest producers of wheat, are also expecting poor crop this year.
However, Minister Naydenov warned that any speculations with the prices of foods in Bulgaria shall be punished severely. State subsidies for the farmers may prevent a sharp increase in the price of meat products.