Crisis: Greek traders see food price rises

17 August, 14:02

(ANSAmed) - ATHENS, AUGUST 17 - Greek traders are forecasting price rises for basic foodstuffs in the months ahead as a result of hikes in the cost of farm produce internationally as daily Kathimerini reports. As an antidote, the National Confederation of Greek Commerce, known as ESEE, is proposing a return to the cultivation of farmland and the proper commercial management of Greek produce, which would also contribute to a recovery of the economy. Sharply reduced rainfall in the US, Russia, Kazakhstan and Ukraine are leading to steep rises in the prices of cereals, which is also seen affecting the price of animal feed. In Greece, cereal production is also reduced this year, while the sharp rise in the price of soya and corn, by 100% and 60% respectively, is expected to cause a new wave of price hikes.

This comes at a time when producers have extremely limited access to bank borrowing. According to ESEE, Greek poultry farmers are now selling their produce below cost. The agency argues that Greek enterprises must now tap the growing turn of consumers toward local produce to help change the productive mode of the economy. (ANSAmed).

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