Filenews 23 May 2022 - by Angelos Nikolaou
Explosive is the increase in food prices, which has been recorded in recent times. The rise in global commodity prices, which has been further accelerated by Russia's invasion of Ukraine, continues the upward trend with no signs of straying accuracy.
The Commission's official figures with the rise in food prices are frightening, and they are not unrelated to the fact that the prices of cereals, cereals and fertilisers have skyrocketed in all European markets.
In the Commission's Price Observatory, which monitors market developments for agricultural commodities and foodstuffs, the April data at both EU and global level show recent price trends.
A table lists the markets for arable crops, meat and dairy products in the European Union. Based on these data, among cereals are recorded annual increases in the price of soft wheat 78.3%, durum wheat 63.2%, corn 59.2% and barley 89.7%. The EU data concerning Cyprus recorded an increase in the price of barley of 61.4%.
In the meat category the price of beef has increased by 35.6%, pork 21.9% and chicken 30.6%. In Cyprus, an increase in the price of pork of 34.3% and chicken of 3.4% is recorded.
In dairy products, the price of butter rose by 71.2%, and that of cheese by 21.8%. The price of skimmed milk powder also increased by 65.7% and whole milk powder by 62.6%.
The oilseeds category also shows an increase with the price of oilseed rape showing an increase of 89.9%, while the price of soy beans recorded an increase of 20.5%. The price of white sugar has also increased by 12.4%, while the price of japonica-type rice has increased over the year by 69.3% and that of Indica-type rice by 18.9%.
Chain increases in food
The great concern among consumers with the continuous increases in the prices of essential goods is also reflected in the official EU data. Within a year, Cyprus has achieved increases in almost all food indices, while the variation in Cyprus is greater in percentage terms in almost all species than the average price in the EU of 27 Member States. In the general index, Cyprus recorded an increase in April 2022 compared to April 2021 of 8.6%, with the average in the EU being 8.1%. Furthermore, in the food category the increase in Cyprus is 12.3% compared to 8.9% the average price in the EU. The bread and cereals category shows an increase of 9.5% in Cyprus compared to 10% in the EU, while the price of meats shows an increase of 11.4% in Cyprus compared to a 9.1% average price in the EU.
The fish and seafood category shows an increase of 9.5% in Cyprus, while the average price in the EU is 7.7%. The milk, cheese and eggs category shows an increase of 3% in Cyprus, relatively much smaller than the average change in the EU of 8.9%, while Cyprus is the cheapest in the category oils and fats which shows a change of 10.5% compared to 23%. The price of fruit shows an increase of 5.5% and 44.2% of vegetables in Cyprus. Similarly, in the EU the average growth rate is 6% and 10.7%.
The sugar, jam, honey, chocolate and confectionery category shows an increase of 4% corresponding to the average price of 3.9% in the EU, while the food products category shows an increase of 7.4% in Cyprus and 5.8% the average price in the EU.
