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Higher demand pushing food prices up in Lithuania

BC, Vilnius , 19.03.2020.Print version
The prices of some food products have gone up in recent days after Lithuania was placed under quarantine and people started panic-buying and stockpiling. The association of pig producers says higher demand is pushing prices up, reported LETA/BNS.

Algis Baravykas, the head of the association, says not only the prices of pork but those of other products are also rising, adding that "the consumer cannot be the winner everywhere".

"We see that prices are rising, and here they are taking advantage of the situation. But the consumer needs to understand that they cannot be the absolute winner in all situations. (…) Naturally, the prices of some products have gone down and others have gone up," he said.

The flows of shoppers have also contributed to the increase in prices, Baravykas said. "It’s just basic market economy, and this is how it works," he said.

Arunas Vizicksas, the fonder of the price monitoring website, says not the price of pork but those of other products are also rising.

"Since February 26 until now, the price of rice has gone up by 11 percent, and that of buckwheat has jumped 35 percent. I cannot say specifically as yet but the prices of meat, pork are growing as well," Vizinskas told LETA/BNS.

Earlier in the day, Prime Minister Saulius Skvernelis said suppliers should not take advantage of the situation and should not increase food prices. Moreover, the government and the Seimas have the possibility to cap the prices of key products.

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