Bulgaria: Food Prices will Increase by more than 50% until the New Harvest

Business » INDUSTRY | April 14, 2022, Thursday // 15:26
Bulgaria: Bulgaria: Food Prices will Increase by more than 50% until the New Harvest Pixabay

Food prices will increase by more than 50% until the new harvest, according to an economic analysis by the Bulgarian Academy of Sciences. Experts suggest government aid to producers and low-income people.

Food prices are three times higher than a year ago. Bread grains have risen in price twice, sunflower seeds three times more expensive, fuels and energy three times more expensive. In this situation, until the new harvest in the most optimistic scenario, food prices will continue to rise,” predicts Ognyan Buyukliev from the Institute for Economic Research of the Bulgarian Academy of Sciences.

“Our optimistic forecast is that prices will rise by about 50% by October 1. The pessimistic scenario we have developed if the war lasts a long time and the sanctions at least until the end of the year - at least three or four times or over 200%. If the war is over, the realistic scenario is about 100%.”

Therefore, the recommendations in the analysis are for aid to producers and low-income consumers.

“With such a jump in prices, farmers must be supported. There is no way out, food vouchers.”

If the war in Ukraine drags on, a global food crisis is looming, Buyukliev predicted.

Follow Novinite.com on Twitter and Facebook

Write to us at editors@novinite.com

Информирайте се на Български - Novinite.bg

/BNR

We need your support so Novinite.com can keep delivering news and information about Bulgaria! Thank you!

Industry » Be a reporter: Write and send your article
Tags: harvest, food, prices, Bulgaria

Advertisement
Advertisement
Bulgaria news Novinite.com (Sofia News Agency - www.sofianewsagency.com) is unique with being a real time news provider in English that informs its readers about the latest Bulgarian news. The editorial staff also publishes a daily online newspaper "Sofia Morning News." Novinite.com (Sofia News Agency - www.sofianewsagency.com) and Sofia Morning News publish the latest economic, political and cultural news that take place in Bulgaria. Foreign media analysis on Bulgaria and World News in Brief are also part of the web site and the online newspaper. News Bulgaria