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We kicked off the month of November with a gradual increase in the prices of basic food products. The trend is constant but increasing. What to expect during the festive month of December and how to shop wisely for Christmas and New Years? We asked Vladimir Ivanov, chairman of the State Commission for Commodity Exchanges and Markets, for a comment.
“The positive bearish trend of the summer has been liquidated and we have returned to the levels, as an average basis of the prices of the main foods of our “consumption basket”, of the spring period. In practice, we have the maximum value for the month of May, i.e. a 29% difference in price levels from 2021,” commented Vladimir Ivanov for Radio Blagoevgrad.
Pork and cabbage maintain last year’s prices, but the most noticeable increase is for cheese with 45%. In general, the increase in the price of dairy products on an annual basis is about 33%.
Now it is difficult to find cheese under BGN 20 per kilogram and yellow cheese under BGN 30. There are also examples of cheese prices around BGN 35. Therefore, not a small fraction of consumers either buy a smaller amount or prefer the cheaper imitation dairy products. Will dairy products become a delicacy – we also asked Vladimir Ivanov.
“They are already a delicacy for the Bulgarian table. Prices of BGN 30-35 for cheese, as noted, are too high, disproportionate, as the price right now is around BGN 16-16.50 per kilogram per wholesale. We are talking about high quality, but the difference is huge. That’s why I appeal to consumers when they shop, let them do their due diligence, shop around, seek information and not contribute to the implementation of such bad business practices,” advised the expert.
Vladimir Ivanov stressed that we should not expect an increase in the price of fish for the upcoming Nicholas Day holiday. This also applies to other food products, because there is a good supply of food on the market, even in excess. We should not expect apocalyptic images, but rather a continuation of the current trend.
“The winter will be harsh, but not apocalyptic. We shouldn’t expect a sharp increase in food prices. It’s a different matter if you relate it to income levels, from which the tragedy clearly comes. There are no conditions to provoke any violent market processes, of course, if the tension in Ukraine does not escalate”, the chairman of the State Commission on Commodity Exchanges and Markets also specified.
Vladimir Ivanov advised consumers to be careful where and what they buy, not to buy at any price, not to panic, but to look for a serious source of information, especially regarding products of poor quality.
“If we buy pork and cabbage for the holiday table, we will pay exactly the same as last year. It all depends on what we put on the Christmas table and on the shopping the family will do, outside the food market, given that the drama takes place, when costs exceed incomes. But, in general, we have a well-structured market in competitive relations, that is, from the point of view of the market, there is no drama” – Vladimir Ivanov is categorical.
