The Czech Republic’s Agriculture Minister Zdeněk Nekula has called on supermarket chains to explain the high prices of sugar in the country. He believes that the high trade markups set by the supermarket chains are immoral, and is asking for clarification on when prices will be reduced to a reasonable level.

According to data from the Czech Statistical Office, producer prices for sugar rose by CZK 6.7 per kilogram between September and December of last year. However, prices in shops during the same period rose by CZK 14 per kilogram. In September, sugar cost CZK 18.21 on average, and by December, the price had risen to CZK 32.23.

The Ministry of Agriculture acknowledged that increasing margins were not the only reason for the price rise. Factors such as the rising cost of energy and fertilizers, as well as excessive trade markups by traders, also contributed to the increase in sugar prices.

The annual inflation rate in the Czech Republic reached 15.8 percent in December, with food having the most significant impact on prices. Sugar, in particular, saw a 98.9 percent year-on-year increase in December.

Minister Nekula’s statement highlights the ongoing concern about the impact of rising food prices on households, and the need for transparency and fairness in the market. He is calling for supermarkets to take responsibility for their actions and for prices to be reduced to a reasonable level for the benefit of consumers.

Article by Prague Forum