Financial and business news from Bulgaria

They're spinning a big chess with imported potatoes from the stock market to the store

Potatoes of 25 pennies are imported in Bulgaria from Greece and at the same time retail in the store price is over 1 lev. This shows data of the Ministry of Agriculture, Food and Forestry to a question of BSP MP Radoslav Stoychev about the potato market in Bulgaria, writes Trud bg.
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According to data of the State Commission for Commodity Exchanges and Marketers, the average wholesale price for October is BGN 0.67 per kg and retail reaches BGN 1.03 for kg.

The average price of imported goods this year is 35 per cent lower than last year. By the end of October 31,600 tons of potatoes have been imported in Bulgaria, which is 4% more compared to 2019.

The main quantities come from France, Germany and Greece, said Agriculture Minister Desislava Taneva in his reply.

Last year at that time the average import price was 670 BGN per tonne and now it is 426 leva per tonne. The cheapest comes the goods from Greece - 257 leva per tonne or 0.25 leva per kg. We imported 7,000 tons from there.

From Germany the imports amount to 10,000 tonnes at a price of 350 BGN per tonne or 0.35 BGN per kg, and from France - 10 000 tonnes at a price of 510 leva per tonne. There are small imports from Poland as well.

The agricultural ministry emphasizes that the balance of the potato market in the EU is severely disturbed because of the increased production in the EU, which also leads to a decrease in prices in our country. The main reason is the coronavirus pandemic and much less demand for output globally.

“Retail demand increased during the summer months, but not enough to cover the lack of demand from hotels, restaurants and catering”, says Desislava Taneva.

She adds that demand for processing factories is also not at the level of last year.

The consumption of potatoes for consumption in Bulgaria is about 190 000 - 195 000 tonnes. The processing is carried out by 18 enterprises, which process 11,000 tonnes per year.

The stocks of potatoes in the country are about 44,000 tonnes as of the end of October. The level of self-satisfaction in the domestic market with potatoes over the last 3-4 years has grown to reach 85% of the total quantity.

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