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Trading Networks: Groceries Prices Rose by 40%

Food products prices have surged by 40%, representatives of various trading networks told the Business Contract. GEL devaluation and growth in excise tax on a number of products have increased prices over the past 2 months, they noted.

“Changes touched almost all importer companies, while bakeries make exceptions among domestic companies… Naturally, these changes have effected prices of Nikora network too, but we maximally try to minimize the upturn thanks to reduced margin”, Nikora representative noted.

As to Nikora-manufactured products, prices of meat products and semi-finished goods have not increased yet.

“We do our best to prevent price revision. However, production depends on imports. Raw materials are imported from abroad and if the process is not stabilized, price correction is inevitable”, the company noted.

Two Steps network also proves surge in prices. The company commercial director Misha Dzotsenidze told the Business Contract that prices have increased by 5%-20% on both imported and domestic products.

“Higher excise tax has increased tobacco product prices. Prices rose on a part of dairy products. Starting mid January prices increased on both domestic and imports products”, Misha Dzotsenidze said.