InsiderEconomyThe war in Ukraine affects pasta in Cyprus

The war in Ukraine affects pasta in Cyprus

Due to indirect consequences from the war in Ukraine several products in addition to fuel and energy have now increased prices. Last week several businesses informed investors about possible consequences due to the cost of fuel. Yesterday, announcement continued by trade companies.

The known Cypriot pasta company Mitsidis announced that it is closely monitoring the important increases in the prices and the uncertainty due to the Russian-Ukrainian crisis.  It noted that even though the company has no direct exposure to the Russian or Ukrainian market, it is expose to possible negative consequences in the Cypriot market due to possible reduction of the tourist flow in the summer, to the possible limitation in the sector of services provision, as well as to the possible increase of inflation, that could affect consumer demand.

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