InsiderEconomyPrices of goods in danger of skyrocketing due to war in Ukraine

Prices of goods in danger of skyrocketing due to war in Ukraine

Following the Russian invasion in Ukraine and the subsequent problems, there is a risk of further skyrocketing of the prices of goods

As of today the market of Moldova from where Cypriots get corn and wheat will be closed.

However, even though prices have increased, they are so far reasonable.

The Agriculture Ministry is monitoring the situation and has prepared the main principles of an action plan. The first meeting on the issue took place yesterday and today grain merchants will go there for a discussion of the problems. Agriculture Minister Kadis said that prices of grains might increase if Russia and Ukraine are excluded and Cyprus is obliged to move to other markets but he assured that the unobstructed supply to Cyprus will continue.

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