If the war in Ukraine does not end in the coming months, the level of food prices – mainly cereals, oils and animal products – will increase by 25-30% this fall.
That is compared to prices in 2021. This is what the Deputy Prime Minister, Minister of Agriculture and Rural Development, Henryk Kowalczyk, believes.
In his opinion, the peak of inflation will take place in autumn. However, he declined to answer the question of what overall inflation level should then be expected. In April the inflation was the highest in 24 years!
As he pointed out in an interview. “This is my opinion, because I look from the point of view of agriculture and food prices, because they are, unfortunately, growing very strongly.
In world markets, this food price is rising. If the war in Ukraine does not end, and it seems that probably not soon, then there will be a grain crisis in a way.
This will bring another inflation impulse as prices in the world markets will rise. According to Kowalczyk, the prices of cereals, oils and products of animal origin will increase mainly.
Food prices can increase up to 30%
“The level of food prices year on year, compared to the previous year, compared to the previous season, I think it may be 25-30 percent. if nothing changes in the East, because it is extremely important.
If the Black Sea ports are still blocked, it will not be possible to export grain from Ukraine, there will be a shortage of grain and food on world markets in the second half of the year”, added the minister.
He assured, however, that shortages would not threaten Poland, as we produce enough food. But the Middle East and North Africa in particular may suffer.
He emphasised that the food produced in Poland is sufficient to meet the needs of the Polish population and about 2 million refugees (but there are over 3 mio refugees from Ukraine now !? ed.).
He also recalled that the value of food exports for the previous year amounted to PLN 40 billion. “So this safety margin is very large”, summed up Henryk Kowalczyk.
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Source: 300gospodarka
