Банкеръ Weekly

Briefs

FLOUR PRICES ARE GOING UP, BREAD EXPECTED TO BE HIKED AFTER CHRISMAS

Flour wholesale prices went up slightly in end-October, data of the System for Agricultural Market Information (SAMI) OOD showed. The most significant price increase of type 500 white flour, by 5 per cent, was registered in Vidin in the October 17-24 period. During the same week its price in Varna and Dobrich rose 4% and in Vratsa and Kyustendil - by 2 per cent. Thus, the average price of white flour in the country is already over BGN500/ton after VAT. A similar trend could be noticed in the deals in Dobroudja type 700 flour. Its price approximates that of white flour and the commodity costs more than BGN460/ton on average. Prices are expected to increase by 5-8% in December due to the high price of grain. Bread prices have not changed over tha last ten days. Although in some regions white bread is already sold at BGN1/kg, its average price for the entire country remains at about BGN0.80/kg. Bread is the cheapest in Pazardjik where it can be had at BGN0.67/kg on average.In Sofia it costs BGN0.71/kg, in Kurdjali - BGN0.73/kg, and in Smolyan - BGN0.75/kg.Experts' forecasts do not project an increase of bread prices by the New Year, as most of the bakers do not declare their entire output and sell without calculating VAT. This has already provoked protests of people from the branch, who want the state to intervene and shut down the firms operating in the shady economy.

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