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Bulgaria sellers increased food prices to record highs

Christian Fernsby |
The analysis of wholesale prices of staple groceries in Bulgaria: sugar, flour, oil, rice and pulses scored an year-on-year increase, with the annual averages for most of them being the highest for the period 2015 - 2020.

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Topics: BULGARIA   

This is the conclusion in the annual analysis for 2020 of the State Commission on Commodity Exchanges and Markets (SCCEM).

The goods in which a decrease is registered are scarcely any.

Last year rocketing prices were recorded in sausages (19.8% compared to 2019), minced meat (17.9%), rice (15.3%), oil (14.4%), cheese (13.8%), beans (12.8%), pork (10.9%), sugar (10.8%) etc. In fruits and vegetables the list is topped by apricots (56%), apples (39% compared to 2019), oranges and lemons (by 32% and 20%, respectively).

However, the price dynamics in the fruits and vegs is much more diverse and related to their seasonality. Therefore, there are a number of goods whose average price is lower than the previous year, such as onions, potatoes, pepper and cherries.

According to the analysts’ observations, the retail mark-up for foods varied on average between 4 and 39%.

The leaps vs wholesale prices in the large retail chains are greatest in eggs - 39%, followed by flour - 24%, cooking oil - 17%, and sugar - 4%. In the shop network, the largest mark-up of 33% is for eggs, in flour it is 31%, in oil - 21%, and sugar - 17%.

A kilo of sugar in the wholesale warehouse costs an average of BGN 1.33. At the hypermarket it already costs BGN 1.38, while in the neighborhood groceries - BGN 1.56, according to the observations of the experts.

The vegetable oil, whose price rocketed because of a poorer harvest, had an average initial price at of BGN 2.22 per liter. In retail stores, the label was BGN 2.69 and up. Oil actually started climbing peaks in September and for the September-December period alone gained 25% growth.

Food prices in Bulgaria follow the trend on the world markets. At the end of 2020, the global food market recorded peak values for the last three years, SCCEM said. However, they still remain below the level of 2011.

The spike in international prices is observed in all food groups, and the COVID-19 pandemic has an impact on this. â– 

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