World meat industry news

All news / The government predicted a drop in vegetables, meat and milk prices

  • 14 May 2019, 11:13

Prices for vegetables, meat and dairy products will fall in August. According to the forecast of the Ministry of Economic Development, the fall in prices will not be prevented by the increase in the value-added tax (VAT) from 18 to 20%, which occurred at the beginning of this year.

“Deflation is expected in August, although it will not exceed 0.1 percentage points,” said in the ministry. The ministry explained that the decline in prices for vegetables, milk and meat will be associated with the onset of the summer season.

The Ministry of Agriculture expects a good harvest in 2019. According to preliminary forecasts, the gross harvest of vegetables will increase by 500 thousand tons compared to last year, and the harvest of grain and leguminous crops will grow by 5%.