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Economy

Soaring Produce Prices Hit Cypriots Hard

NICOSIA  – Cypriots are facing steep price hikes for fruits and vegetables, with some items seeing a staggering 100% increase in just one year at retail outlets. Bananas, for instance, now average 1.35 euros ($1.45) per kilo (2.2 pounds), compared to their producer price of only 50 cents (54 cents).

According to the Ministry of Agriculture’s e-kofini platform, retail prices far exceed those set by producer organizations, affecting items like red peppers, cherry tomatoes, green peppers, zucchinis, cauliflower, cucumbers, and onions, which are priced at less than half compared to producer rates.

Despite the significant disparity, the government has yet to intervene to curb profiteering. Retail prices for red peppers have surged by 147%, while cherry tomatoes have seen a staggering 143% increase.

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