Price of sugar in Bulgaria rose 36% in a year
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Loading... - Lisa Steiner
- 08 May 2023
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The rise in sugar prices in Bulgaria has been significant. According to reports, the average price of sugar in Bulgaria was around 0.70 leva per kilogram in 2020. However, by the end of 2021, the price had increased to around 0.95 leva per kilogram. That's a staggering 36% increase in just one year!
This price hike has had a significant impact on both individuals and businesses in Bulgaria. For consumers, it means that they have to pay more for basic goods, which can be a burden, especially for those on a tight budget. For businesses, it means that production costs have increased, which can affect profitability and competitiveness.
Impact on Bulgarian Economy
The rise in sugar prices has had a ripple effect on the Bulgarian economy. The food and beverage industry, which heavily relies on sugar, has been hit hard. Many small businesses in the industry are struggling to cope with the increased production costs. This, in turn, has led to job losses and reduced economic activity.
The rise in sugar prices has also affected Bulgaria's export competitiveness. Bulgaria is known for its sugar production, and the increased prices have made it difficult for the country to compete with other sugar-producing nations. This has led to a decrease in export revenue and a negative impact on the country's balance of trade.
