TODAY’S – Rise in tea, sugar prices affecting both producers and consumers

Rise in tea, sugar prices affecting both producers and consumersThe recent price hikes in some staple foods — from meat to milk and from yogurt to vegetables — have now extended to tea and sugar, hurting consumers as well as industrialists who manufacture products using sugarDuring the Islamic month of Ramadan last year, which fell between July and August, 50 kilograms of sugar was priced at TL 128. This Ramadan, it is now TL 167, and a kilo of tea has jumped from TL 12 to TL 15 in the same 12-month period.

According to a recently released report prepared by the Turkish Senior Agricultural Engineers Union (TZYMB), the price of a kilo of sugar went up 19.4 percent in June compared to May, and the year-on-year increase in sugar prices has been as high as 100 percent for certain brands and types.

A kilo of granulated sugar sold for TL 230 a year ago and a five-kilo pack had a price tag of TL 10.90.

Today, however, the same five-kilo pack is priced as TL 20 and one kilo can vary between TL 350 and TL 4, depending on packaging.YIldIz Holding Food Group Vice President Mete Buyurgan was among the industrialists who expressed discontent with the recent price hikes.

He underlined that they would lead to an inevitable rise in production costs and thus, a possible increase in final output costs. Balaban GIda partner Ertan Kupu also expressed his dissatisfaction with the price of sugar, saying some top managers and production planners at his company were “shaken.

”As a result of recent increases in the prices of cacao, hazelnuts, peanuts and sugar, Kupu said chocolate is rapidly becoming a luxury product. “This hike was something we were definitely not expecting.

We have not been able to reflect this rise in our final product prices yet since we are already in a dead season. But I don’t think we can bear this any longer The price of hazelnuts soared from TL 12 to TL 24 a kilo and unshelled pistachio nuts, which we were being sold for TL 25 a kilo, rose dramatically to TL 75-80,” he said.

SOURCE: Today’s Zaman