Meat prices in Cyprus are rising by 10% weekly
Meat prices in Cyprus are constantly rising due to the shock wave created by the war in Ukraine. So far, pork prices have jumped by 10%, according to the Cyprus Mail newspaper, yet another increase is expected this week. Poultry prices are up 15% month-on-month, according to official data, due to disruption appearing in the supply chain from Ukraine, while imports from Romania and Poland are either limited due to barriers placed barriers to their exports or significantly expensive. That forced Cypriot importers to turn to South America, according to sources in the market.
The supermarkets also issued warnings last week, after having previously sought to calm the nerves of consumers. General secretary of the retailers’ association Marios Antoniou said that the impact of the sanctions on Russia has not yet fully materialised across the Cypriot market. He said that significant increases of 20-25% on key goods will be felt by consumers next week, pointing out meat as the main factor of inflation. He warned that the price of chicken is set to rise by 20-25%.
Agriculture Minister Costas Kadis said that the livestock industry in Cyprus has been hit with a 70% year-on-year rise in the cost of grains but the shock has not yet reach the consumer.
Cyprus only produce 40% of the poultry meat consumed in the country, while the rest was usually secured from EU member countries or from Ukraine.
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