2 Retail Chains in Bulgaria Vow Price Freeze of Staple Foods

Business | August 2, 2012, Thursday // 15:27|  views

The Bulgarian branches of Kaufland and Metro have agreed to a 3-month price freeze of staple foods. Photo by Sofia Photo Agency

The Bulgarian branches of two chains of stores, Kaufland and Metro, have undertaken a commitment to not increase prices of staple foods for three months, according to Agriculture Minister Miroslav Naydenov.

The price freeze will apply for bread, milk, yogurt, cheese, butter, yellow cheese, poultry, pork, eggs and frankfurters made by Bulgarian producers.

Naydenov, as cited by the Focus news agency, said he expected other chains of stores to join the agreement by the end of the day.

"I thank them for this decision and this socially responsible stance," Bulgaria's Agriculture Minister stated.

The price freeze agreement comes after an announcement Wednesday that the State Agency for National Security (DANS), the National Revenue Agency (NRA) and the Economic Police Directorate are launching joint inspections of major retail chains and meat and dairy processors.

The measure is aimed at identifying suspected distortions along the producer-processor-trader chain.

Naydenov made clear Wednesday that the inspections would be conducted because staple food prices were an issue of national security.

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Tags: Agriculture Minister, Miroslav Naydenov, meat, dairy products, retail chain, Metro Cash & Carry, Kaufland, price freeze


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