Compared with December 2016, prices of most food products in Latvia increased in March. Prices declined only for imported strawberries, oranges and smoked ham in the first quarter of 2017, according to information from the Agricultural Market Promotion Center.
The biggest price increase was noted for imported cucumbers (91%) – from 2.08 EUR/kg to 3.98 EUR/kg.
For local cucumbers and yellow paprika, price increased by 48% – from 3.97 EUR/kg to 5.61 EUR/kg and 2.94 EUR/kg to 4.37 EUR/kg respectively. The price of red paprika increased by 40% – from 2.89 EUR/kg to 4.02 EUR/kg. The price of local tomatoes increased by 27% – from 4.99 EUR/kg to 6.31 EUR/kg.
Information from the center shows that the price increase for green grapes was 20% – from 3.30 EUR/kg to 3.94 EUR/kg. The price increase for large cranberries was 15% – from 2.49 EUR/liter to 2.86 EUR/liter.
The price increase of beef fillet was 14% – from 7.66 EUR/kg to 8.75 EUR/kg.
The price increase of imported tomatoes was 11% – from 2.94 EUR/kg to 3.26 EUR/kg.
A significant price reduction was noted for imported strawberries (28%) in Q1 – from 13.36 EUR/kg to 9.67 EUR/kg. Prices also declined for imported oranges (from 1.82 EUR/kg to 1.47 EUR/kg) and smoked ham (from 6.91 EUR/kg to 6.58 EUR/kg).
“Food price rise has begun in Latvia and elsewhere in the world. For fruit and vegetables, the price rise is associated with seasonal changes, poor weather conditions in Italy and Spain, as well as decline of vegetable stores. The price rise on dairy products is associated with increasing demand for products in Russia, China and Mexico. Milk production in the European Union in 2016 was on the same level as in 2015,” notes manager of the Agricultural Market Promotion Center Inguna Gulbe.
Butter exports in the EU have grown by 19% and exports of cheese – by 11%.
“Coffee prices increased under concerns for Robusta coffee supplies. Production will be behind consumption, and there will be a risk of global coffee deficit. Some producers in Latvia say that even though they haven’t increased prices on their products some retail networks have increased prices regardless. It is sad that some retailers use global tendencies to earn some easy money, giving no thought to their partners – buyers, producers and importers,” Gulbe said. (BNN/Business World Magazine)
