On November 14, Dr. Nadja El Benni, employed at the Research Institute of Organic Agriculture (FiBL) until October 2016 and starting at Agroscope (Swiss Confederation’s center of excellence for agricultural research) in January 2017 as head of the Strategic Research Division “Competitiveness and System Evaluation”, visited ISET.
Georgian retail prices increased at the end of October. Driven by seasonal fruits and vegetables, ISET’s Retail Food Price index gained 2.2% m/m (compared to the last week of September). However, compared to October 2015, we still observed a significant 13.5% decline in food prices.
In the second week of October, food prices kept going down: ISET’s Retail Food Price index lost 0.8% m/m (compared to the last week of September) and 15% y/y (compared to October 2015). The largest bi-weekly price changes were recorded for seasonal food products such as fresh fruit and vegetables. Prices moved down the most for coriander (-23%), onion (-8%), and cabbage (-6%).
The particular importance of agriculture in Ukraine is so strong that it has been suggested by some that it is reflected in the country's flag; the golden yellow field of wheat sits beneath a blue sky, said to be a common sight in rural Ukraine.
Having experienced a temporary 1% spike in August, food prices are going down again. In the second week of September, ISET’s Retail Food Price Index dropped 0.7% m/m (compared to August 2016) and 2% y/y (compared to September 2015).