The acting Minister of Agriculture and Food Ivan Hristanov stated that he does not expect a noticeable increase in the prices of goods. After a meeting with President Iliana Yotova, he pointed out that there is an oversupply of pork on the European market. In terms of bread and bakery products, Bulgaria's grain balance is currently 1 million in surplus compared to the same period last year.
According to Minister Hristanov, during the meeting they shared the President's concern regarding prices, the sustainability of the agri-food chain, and farmers in Bulgaria against the backdrop of the crisis in the Middle East, the increase in oil and nitrogen fertilizer prices.
The Minister of Agriculture explained that when commodity prices do not increase, but energy and fertilizer prices do, there is a crisis buffer that is taken over by producers. What we discussed with the President is what these buffers are, he added.
Ivan Hristanov indicated that 557 million euros will be directed to the agricultural sector within the next three months in order to guarantee its liquidity and ability to meet its expenses. He also said that they are planning other measures, most of which are ready. As an example, he gave the measure for a discount on the excise duty on gas oil, the rate of which is increasing from 0.21 to 0.31 euros per liter. The Minister of Agriculture announced that this has already been approved by the Ministry of Finance and a notification is pending.
Minister Hristanov pointed out that yesterday they discussed with the industry organizations that the Ministry of Agriculture, together with the Ministry of Economy and Industry, should make efforts to convene an extraordinary session of parliament. The goal is to adopt some things that are particularly urgent, such as state support for nitrogen fertilizers. They are the largest expense and would have the greatest impact on final prices for consumers, Hristanov commented.
President Iliana Yotova initiated a series of meetings regarding the need for effective measures to overcome the economic consequences of the conflict in the Middle East. Earlier today, she also met with the acting Minister of Tourism Irena Georgieva.