As the H1 portal reports today, for an average salary, you can now buy 84 liters of edible oil less than a year ago.
Factors for the upward trend in oil prices on the domestic market should be sought in the world market, because the price of oilseeds on world stock exchanges rose partly due to lower yields in 2020, which led to lower supply, and because financial funds in the pandemic business reoriented on investments in agricultural commodities.
The director of “Zita Srbije”, Suncica Savovic, said that the possible stabilization of prices should not be expected before the end of the harvest in Russia and Ukraine, which are the world’s largest producers, ie before the arrival of new quantities of oil on the world market.
She pointed out that, in addition, it should be borne in mind that the price of crude oil last week was at the highest level in the previous three years.
“It has some influence on the growth of the prices of edible oils. The price of palm oil is also on the rise,” Savović pointed out.
In large retail chains in Serbia, the prices of edible sunflower oil range from 164.99 dinars, which is the price of the cheapest packaging under the brand name, all the way to 224.99 dinars, which is the price of well.known olive oil producers.
According to official information on the value of the consumer basket, which is regularly published by the Ministry of Trade, Tourism and Telecommunications, a liter of oil rose from 121.81 dinars, as it was worth in January 2020 to 176.76 dinars, according to the latest available data for July 2021, which is an increase of 45 percent. //