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World food prices are rising this year-end. The United Nations' measurements show that in November, the price index rose to 127.5 points.
Compared to October, this indicator has expanded by 0.9 points. The biggest impact on the expansion of the index to the highest level in 19 months was the increase in the price of vegetable oils. How much risk is there that these effects will be transmitted to Albania on the eve of the end-of-year holidays?
Theodhor Kristuli, from the Albanian Agro-Food Union, told A2CNN: "The growth of this product has been driven by concerns about lower-than-expected palm oil yields due to heavy rainfall in Southeast Asia. We don't have to worry. Traders have found new markets. I even know of a ship coming."
Along with oils, milk and its by-products continue to be expensive in the world. According to FAO measurements, the price index for this product category increased to 139.9 points last month from 139 points in October. This is expected to be quickly reflected in the country's markets due to the high dependence on imports for these product categories: "Farmers cannot produce for patriotism. When production costs are high, there is consequently no profit. Serbia, from where we import, has increased the prices of milk and its by-products, and consequently it will come to us more expensive."
Although rising at the beginning of the year, the prices of meat and its by-products softened slightly in November. The price index for this product category fell to 118.1 points last month from 119.1 points in October. For those familiar with foreign trade, on the eve of the end of the year the government should intervene by reducing the value-added tax on imports in order to prevent price increases in the country.
"The government has collected a lot of money from VAT on imports. It makes no sense for the state coffers to be so full and for citizens to bear the burden. Some relief is needed," declares Kristuli.
According to estimates by the United Nations Food and Agriculture Organization, prices are expected to increase further next year, risking a return to the wave of inflation in the world./A2CNN
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