High food prices

Local food producers call for massive price hikes amid the Russian invasion that has brought higher prices of wheat, oils and other commodities on global markets. They warn they might not survive the onslaught on pricey inputs. They demand a 20-25% increase in prices for flour, bread and meat. Retail chains are trying to curb price growth, also through imports, and vegetable oil is the first item they can no longer source in sufficient quantities. Retailers do not expect shortages of other foods as yet. The government has no plans to compensate for high food prices, for instance by cutting VAT. On a positive note, high food prices may result in a reduction in food waste from the current level of 20-40%.

(dennikN.sk)