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May 28, 2012
 
 
 
 
 
 

Food prices increase significantly ahead of Ramadan

9 August 2010 / TODAY’S ZAMAN, İSTANBUL
With only a few days left until the Islamic holy month of Ramadan, the prices of 15 products were up compared to this time last year.
The prices of lemon, veal, lamb, hazelnuts and dried apricot rose the most while 13 other products saw a decline in this period, with potatoes seeing the greatest reduction in price, while only one product, the peach, saw neither drop nor increase in its price. The Turkish Union of Agricultural Chambers (TZOB) carries out a survey of these items prior to every Ramadan to track price changes.

TZOB President Şemsi Bayraktar announced the price changes ahead of the Muslim fasting month, which traditionally sees a noticeable increase in the demand for food in Turkey. Bayraktar stressed that fresh fruits and vegetables will be sold at the most affordable prices again during the month.

He said that the food market has started to stir with Ramadan approaching, but warned of speculators who could benefit from this soaring demand.

Giving information about developments in the prices ahead of Ramadan, Bayraktar said that consumer prices of 10 products declined in the past week, while another 10 remained unchanged and nine products saw a hike in their prices. In producer prices, however, the prices of 15 products remained unchanged during the period, but the prices of six products increased and another six products experienced a rise in producer prices. The difference between consumer and producer prices reached 322 percent, he said.

Recalling rumors about an expected rise in meat prices due to Ramadan, Bayraktar said a suitable environment has been created for prices hikes by speculators. Producers played no role in any meat price hikes, he asserted.

Also touching upon rises in wheat prices in recent days, Bayraktar said the price hikes are artificial and do not stem from a drop in world wheat production.

 
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