Food prices will increase by more than 50% until the new harvest.

This shows an economic analysis of BAS.

Food prices are three times higher than a year ago.

Bread grains have risen in price twice, sunflower seeds three times more expensive, fuels and energy three times more expensive.

In this situation, until the new harvest in the most optimistic scenario, food prices will continue to rise.

"This forecast is based on various circumstances.

About 35% of cereal production is located in Ukraine and Russia.

The price of our production is also changing, because 25% of the cost of cereals is mineral fertilizers.

They are produced mainly in Ukraine, Russia and Belarus.

40% of the cost are fuels, which are also more expensive ", commented Assoc. Prof. Dr. Ognyan Boyukliev from the Institute for Economic Research - BAS.

BAS: Food prices will increase by more than 50% until the new harvest

"The fact is that we have enough grain and sunflower, but their price cannot remain the same," he added.

According to him, there is a pessimistic hypothesis that if the war in Ukraine continues for a long time, it is possible that food prices will increase by 200%.

"If the war continues for a long time and this area is completely separated until things settle down, it is possible that this will happen," Boyukliev said.

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