Baltic, Foodstuff, Markets and Companies

Last year, the price of sugar grew considerably in all Baltic capitals – Tallinn – 45%, Vilnius – 30%, and Riga – 26%, Agriculture Market Promotion Center Head Inguna Gulbe informed the business information portal Nozare.lv. In December 2011, sugar prices reached LVL 0.92 per kilogram in Tallinn, LVL 0.87 in Riga, and LVL 0.82 in Vilnius, writes LETA.

On the other hand, white cabbage prices reduced the most last year – in Tallinn – 59%, Vilnius – 54%, Riga – 36%.

Onion prices dropped as well – in Tallinn by 56%, in Riga – 52%, Vilnius – 39%.

"The food prices on Baltic markets more or less reflected last year's developments on global markets. In 2011, sugar prices rose all around the world, resulting in higher prices in Latvia. The same happened with coffee prices, which increased by one-third. In December 2011, a cup of "McDonald's" coffee cost LVL 1.05 in Tallinn, LVL 0.71 in Vilnius, and LVL 0.70 in Riga, explained Gulbe.

The Agricultural Market Promotion Center was created in 1995 as a part of the Latvian State Institute of Agrarian Economics. It collects and collates information about the price and amount of specific agricultural products and submits it to the European Commission. The acquired information is used to assess the situation in the production of agricultural products and in the market, to ground intervention measures, and to establish the customs value of specific agricultural products.