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Inflation. Sugar rose in the EU by 61%. during the year

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In 2022, we were dealing with a significant increase in food prices, and one of the products that went up the most is sugar. According to Eurostat data, in March this year the price of sugar in the European Union countries was higher on average by 61 percent than in 2022. In Poland, the increase reached 82 percent.

The Czech Republic with the largest increase in sugar prices

According to Eurostat, in March 2023 the highest increases sugar prices was noted in the Czech Republic (98%) Estonia (97%), Poland (82%), Germany (72%) and Latvia (70%).

At the other end of the list were Hungary (17%), Luxembourg (19%), Belgium (35%), Bulgaria (36%) and Ireland (37%).

Sugar price increase in the EU in March 2023Eurostat

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Sugar madness in Poland

In the middle of last year, we reported that some large retail chains introduced limits on the purchase of sugar. As explained, this was due to the increased demand for this product. At the same time, it was reassured that there would be no shortage of sugar.

Also, the general director of the Polish Federation of Food Producers, Andrzej Gantner, assured in an interview with TVN24 Biznes that “we don’t have to worry about the availability of this product”. – We have a lot of sugar, we are the third largest sugar producer in Europe. In addition, in a moment, in October, the sugar campaign will start, when new sugar will be produced from the sugar beet harvest – he said in July 2022.

The expert explained that “sugar problems in some stores are due to several reasons”. – On the one hand, there are logistical problems of these chains. On the other hand, we currently have a high demand for sugar, because many Poles make preserves – he mentioned.

Gantner said that “there was a panic that there was going to be a shortage of sugar, although that’s not true.” At the same time, he added that “in some chains it turned out that sugar is cheaper than, for example, in wholesalers”.

Some retailers took advantage of the sugar panic to raise prices for customers. – Sugar has gone up dramatically and this is a very unusual situation. If we look at the price on the European or global market, we don’t have anything like that. In the first part of last year, even price drops were recorded. When we look at European or global markets, we must take this into account dollar’s exchange rate or the euro. Certainly, it would not motivate a doubling of sugar prices, said economist Marek Zuber recently.

– The industry maintains the price above PLN 6 per kilogram to this day – he added.

Read also: Economist: We haven’t experienced anything like this in 30 years of a market economy

Inflation in Poland

Inflation in March 2023 amounted to 16.1 percent. Every year. This is a slightly lower price increase than reported in the initial estimate. At the end of March, the Central Statistical Office announced in the so-called flash estimate that inflation in March this year was amounted to 16.2 percent. Every year. In March, compared to February, the prices of consumer goods and services increased by 1.1 percent.

In turn, according to the flash estimate of the Central Statistical Office for April 2023 prices of consumer goods and services, compared to the same month last year, increased by 14.7 percent, and compared to the previous month they increased by 0.7 percent.

Inflation in PolandPAP/Maciej Zielinski

Main photo source: 507983456

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