Cooking oil price goes up by 10%

“The increase in cooking oil prices by some producers in Serbia by about 10% is a consequence of the increase in the purchase prices of oilseed and the already tried and tested trade policies of the producers, who usually slowly increase the price even before they use up the remaining raw materials purchased at lower prices,” says agricultural expert Milan Prostran.

“Product prices are determined by the prices of raw materials and the free market, and the price of sunflower this year has gone up,” Prostran adds.

Last year, the buyout price of sunflower was 31 dinars per kilogramme, and this year between 36 and 37 dinars, which is about 20% higher.

Prostran estimates that the increase in the price of oil can be “neutralized” with more rational consumption.

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“Farmers have to charge for their work. The increase in the buyout price of sunflower this year due to reduced production and a pandemic will be a reason for producers to increase their prices,” Prostran adds.

It is still uncertain whether the price of sugar will go up too because most sugar beet producers have not yet determined the buyout price.

Zdravko Šajatović, the director of Žitounija association of millers and pasta factories, says that although wheat is sold at higher prices this year compared to last year, a significant increase in the price of flour should not be expected.

“The price of flour is growing much slower than the price of wheat, and this year there is a surplus of wheat. The global price has gone up due to formation of larger stocks as a result of the pandemic,” said Šajatović.

He added that although the price of wheat is 21.50 dinars per kilogramme, the wholesale price of flour is between 26 and 27 dinars per kilogramme, and the supply is quite big because there are at least about 3,000 mills in Serbia working continuously.

(Danas, 23.11.2020)


This post is also available in: Italiano

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