Prices expected to rise from 30% all the way to 50%, says head of KASH

Head of the Agribusiness Council (KASH), Agim Rrapaj

The current state of our economy is getting more and more difficult by the day, especially since rising prices have come as a surprise on all fronts.

This is what the head of the Agribusiness Council (KASH), Agim Rrapaj, said during an interview for Euronews Albania, during which he also maintained that prices in the upcoming weeks and months are expected to rise from 30% all the way to 50%.

“[It’s getting very difficult] to invest in the present situation, with the current price hikes or the current international conjuncture – and let’s not forget, we’ve already gone through the earthquake, the pandemic, rising prices, and we’ve also faced incredibly harsh weather condition,” – said Rrapaj.

In addition, Rrapaj argued that farmers can’t afford these market fluctuations and many of them are hesitating to invest any further which represents the first element of this crisis. ‘Farmers are reluctant and have taken a step back until they can have a clearer understanding of what’s actually going to happen,’ – said the expert.

Meanwhile, the deputy minister of agriculture in North Macedonia, Abdylshyqyr Abedini said that the Macedonian government decided to freeze the margins for basic commercial products so that citizens’ experience of the incoming crisis can be smoother.

“According to our calculations, 5% of our trade margins are made up of the wholesale market and 10% from our retail sales,” – said Abedini while explaining that this measure came into force on March 1 and will continue through to May 31.

In addition, he said that the rise in prices, be it in terms of energy, oil and its derivatives, and food products, is going on at a global scale and based on the fact that North Macedonia gets 70% of its imports from the European Union, these price hikes will be significantly reflected within Macedonian borders as well.