Processed Food Prices Seen Up 10-12% In Next 2-3 Months - Producers

05.08.2011 ZF English

The prices of processed food products will increase by up to 10-12% in the next 2-3 months, Sorin Minea, president of Romanian food producers' association Romalimenta, said Sunday on ProTV.

Minea said nothing can be done about the rising prices, since Romania is dependent on foreign markets for its raw materials.

Agriculture Ministry state secretary Adrian Radulescu explained that meat products will become more expensive later in the year, because of the higher price of the cereal used as animal feed.

The Romanian central bank revised upwards its forecasts for 2011 and 2012 annual inflation to 5.1% and 3.6%, respectively, governor Mugur Isarescu said Thursday.

He also said Romanian food prices are growing at the second-fastest pace in the region, after Bulgaria.