There is huge uncertainty in the market, as this year's maize harvest will not meet domestic demand.Continue reading
Producer prices of agricultural products were on average 50.7 percent higher in July than a year earlier, accelerating by 2.4 percentage points from 2.9 percentage points in June, according to the latest data published on the website of the Central Statistical Office on Monday.
Cereal prices rose the most, up 82.2 percent from July last year, and also up 11.1 percentage points from the previous month.
Wheat purchasing prices more than doubled last July’s with a 106.9 percent increase.
Corn purchasing prices were up 63.3 percent from last year.
Prices for live animals and animal products also rose sharply, with prices up 45.6 percent on average over the past year. The 48.5 percent rise in the purchase price of live animals was caused by a surge in the purchase price of pigs and beef cattle for slaughter. The price of beef cattle for slaughter increased by 48.9 percent compared to last year.
Vegetables were also affected, with the average purchase price of vegetables 27.4 percent higher in July this year than in the same period last year. The biggest price increase was for green peas, which were 51.2 percent more expensive, but the price of head cabbage also rose by 34.9 percent over a year.
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