Bulgaria Threatens to Cut Agriculture Grants over Price Hike

Business | March 13, 2012, Tuesday // 12:54|  views

Bulgarian Agriculture Minister Miroslav Naydenov. Photo by BGNES

The Bulgarian government has threatened to cut agriculture grants for producers who deliberately increase prices ahead of Easter.

Egg, lamb and pork prices started increasing several weeks ahead of the Orthodox Easter Sunday (which is April 15 in 2012), prompting Prime Minister Boyko Borisov to demand an immediate analysis from several of his Ministers.

Agriculture Minister Miroslav Naydenov, Finance Minister Simeon Djankov and Economy Minister Traicho Traikov have to be ready by Friday with their price analysis and determine whether there has been speculation in place.

"We should not directly accuse producers. They very often offer normal price to dealers, but subsequently the prices for consumers skyrocket," Miroslav Naydenov pointed out on Tuesday, as cited by the Bulgarian National Radio.

Recently, egg prices in Bulgaria doubled in the course of just two weeks, exceeding EUR 0.20 per egg at some places.

It was made clear last week that Poland may increase its exports of eggs to Bulgaria, thus normalizing the market in the country after its recent shocking egg price hike.

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Tags: eggs, egg price, Miroslav Naydenov, Polish, producers, cartel agreement, dealers, agriculture, GRANTS, pork, lamb, Easter


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