BUSINESS

State admits souvlaki price is set to rise

TAGS: Economy, Food

The Economy Ministry has reacted to reports about an upcoming 10-15 percent increase in the retail price of souvlaki, a popular Greek fast food item comprising grilled pork wrapped in pita bread, saying that the rise in the price of pork has not exceeded 1-2 percent at the moment, but it might tick up further due to a meat shortage in China.

Last week market professionals said the traditional offering of a pork kebab or doner in a pita wrap will climb to 3 euros, but a ministry statement read that it is too early as yet to “deduce any safe conclusions over whether the growth trend in the international rates of pork will be passed on to consumer prices, but retail price data do not show a large degree of correlation.”

Swine fever in China may lead to a decline of up to 30 percent in pork production in the world’s most populous country this year, according to a report by Rabobank International. “Meat producers around the world are selling more pork to China to cover the loss from swine fever,” acknowledged the ministry. “Consequently prices are rising in the US and Europe, a trend that is likely to continue as the disease is rapidly spreading throughout China, the biggest producer and consumer in the world,” the statement added.

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