The retail trade of Patras is in a climate of intense uncertainty, as the information wants a new wave of price increases to arrive in the autumn, especially in basic food and daily use products.
The much-desired de-escalation of food prices is constantly postponed, as so far, increases in key product categories that fill the daily table of citizens continue, while the latest estimates of retail executives are not auspicious.
As the vice-president of the Chamber of Achaia pointed out in “Peloponnisos”. and representative of the supermarket chain of the same name Haris Andrikopoulos, “the environment remains volatile. We cannot be sure how prices will develop in the next period, but it appears that any price increases will be on fewer products and at a smaller percentage than what we faced last winter. In-store offers are still there at the same intensity, private label products are an option and consumers should weigh up their options, buying the products they need, at the right quality and price.”
According to ELSTAT, fruits and vegetables as well as dairy-eggs were at the top of the list with the biggest annual price increases in the summer of 2023 (19.4%, 15.5% and 14.4% respectively). A double-digit increase was also recorded in the categories of other foods with 13.7%, mineral water-soft drinks-fruit juices with 13.3%, sugar-chocolates-sweet ice creams with 11.6%, meats with 10.9% and oils- fats with 10.6%.
As regards the price course in the near future based on the new price lists received by the supermarkets, new significant price increases reaching up to more than 30% are expected in olive oil codes, which is already at an all-time high and it is estimated that it will increase at an even faster rate in the coming winter.
Last April virgin olive oil reached a ten-year high, in May a 26-year high and in early August at an all-time high. The expression that “we pay gold for oil” is no longer an exaggeration cliché and has become a reality and the reasons are many. After a good year – in terms of harvest, which was last year – a prolonged cold followed that “confused” the olive trees. The major damage, however, was caused by the long-lasting drought and the extreme intensity and duration of heat waves this summer in Greece as well.
At the same time, production in Spain has fallen dramatically, with the result that it initially resorted to imports mainly from Greece. Italy also resorted to imports from Greece to cover the demand of its market, but also of exporters, as the same factors led to a dramatic reduction in production.
Thus, Greece’s reserves have been dramatically reduced and, combined with the imminent large drop in production, the conditions have been created for prices to skyrocket.
However, it is not only the standard products that have been revalued in waves. From 20% to 60%, the price increases also reach the bulk products sold in the street markets.
According to ELSTAT, fruits and vegetables as well as dairy-eggs were at the top of the list with the biggest price increases
The situation in the People’s Market of Patras was confirmed to “P” by the president of the Association of Fruit and Vegetable Sellers of Achaia “Agios Tryfonas” Dimitris Giannakopoulos. In terms of prices, cauliflowers, broccoli and cabbages have a price increase of around 40%, tomatoes are selling from 1.70 to 1.80 euros/kg, when last year they were at 1.50 euros/kg, potatoes are sold close to 1 euro per kilo from 70-80 cents/kg last year, grapes from 2 to 2.50 euro/kg, while many products have disappeared from the shelves due to the adverse weather conditions that prevailed last summer.
In fact, Mr. Giannakopoulos predicted that we will see new price increases on the stalls of the popular markets of Patras, while some products will disappear from the popular market due to their price, such as virgin olive oil in tins, where it can reach 200 euros . Of course, the same will apply to edible olives, Mr. Giannakopoulos added, due to limited production.
“Fire” prices on milk, cheese, yogurt and eggs
Producers emphasize that farm milk is bought at an extremely low price of 50 cents per kilo
In the first place of accuracy, in the milk-cheese-eggs food category, Greece is among the 27 EU countries based on purchasing power, according to a survey by the Competition Commission.
In particular, in the milk-cheese-eggs category, the index in Greece is the highest and amounts to 1.4 compared to the rest of the countries. As for the food index, it is at 1.1, which again brings our country to the top positions in the EU.
At high levels, the absolute prices for fresh cow’s milk are also high. Based on June 2023 data for low-fat fresh milk, it follows that Greece with a lower price of 1.12 euros per liter is the third most expensive country after Estonia (1.39 euros) and Sweden (1.21 euros). Regarding the highest price for this category, Greece is the second most expensive country (€2.22), after Estonia (€2.39).
The vice president of the coof cattle breeders’ association and the “Proto” factory, Panagiotis Laliotis, told “Peloponnisos” that cow’s milk for the last 40 years has had a fixed price to the producer with very little variation and today it is bought for 50 cents a kilo. According to Mr. Laliotis, for a cow’s milk producer to be viable, he should sell for 80-85 cents per kilo. As soon as its price is not there we will see every year a decrease in herds.
The sale prices of the standardized product on the supermarket shelves are a different story, Mr. Laliotis added, as other factors come into play. However, “Proto” is currently the cheapest cow’s milk on the market, at 1.45 euros per liter in supermarket chains. The only exception is private label products.
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