Bulgarian Minister: New Unit to Monitor Food Prices

Domestic | March 2, 2011, Wednesday // 14:03|  views

Bulgaria's Agriculture Minister Miroslav Naydenov. Photo by BGNES

A special unit at the Bulgarian Council of Ministers will monitor for speculation with prices of basic food products, Agriculture Minister Miroslav Naydenov announced.

On Tuesday, he proposed the creation of a mechanism to monitor food prices and intervene if there are departures from the norm.

"We are talking about a unit that would monitor the whole supply chain, the distribution of money, about potential speculation with food prices. In most cases, the negative result is on the account of producers and consumers," Naydenov said.

In his words, priority products for monitoring will be bread, milk, cheese, eggs, meat, meat products, oil, sugar and other basic products.

The new unit will include representatives of the Ministries of Agriculture, Finance, Economy and Interior. There will also be representatives of the Commission for Consumer Protection, the National Revenue Agency and the Food Safety Agency.

Naydenov has explained that the unit will not cover or decrease the functions of other units like the Commission on Commodity Exchanges and Wholesale Markets and the Commission for Consumer Protection.

"The unit will perform check where it establishes distortions in the market and will also impose sanctions when there are violations. We will not remain indifferent to speculations and market distortion," Naydenov said.

On Tuesday, the minister quoted the results of a sociological survey, which showed that 80% of the Bulgarians think that the increase of food prices was the worst thing that has happened to them.

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Tags: Miroslav Naydenov, food price, speculations, Council of Ministers


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