Price of Basic White Croatian Bread Could Soar as Inflation Continues

Lauren Simmonds

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As Poslovni Dnevnik writes, if the energy market fails to stabilise soon, which is why we’re recording higher wheat prices these days, basic white Croatian bread could reach an unprecedented price of as much as 15 kuna per piece, as was confirmed by the director of Zitozajednica, Nada Barisic, to Jutarnji list.

Predictions are currently within the price of 15 kuna, according to Jutarnji list.

As Barisic told the aforementioned publication, the Croatian bakery industry is quite worried because the price of wheat is currently at record levels, and the situation changing so rapidly that contracts with suppliers are being signed for a maximum of one month at a time because nobody can, nor do they want want to guarantee that these prices will not change again and again.

A tonne of wheat on the French stock exchange currently costs 400 euros, in Argentina 354, and in Chicago 399 euros per tonne, which means that for a kilogram of wheat it is now necessary to set aside as much as three kuna in this country.

Furthermore, the average wholesale price of plain, white flour in 2021 stood at 2.50 kuna per kilogram, while it is currently at the level of four kuna, and the increase in wholesale prices has already spilled over to the prices of retail products and as such, nobody can guarantee that it will not grow further.

“As you can see, a kilo of flour in Croatian stores is now ten kuna, which is the best evidence of the market situation. The prices of bakery products across Croatia in general have been growing steadily since 2020, and although most analysts had previously predicted that the situation would stabilise by now, this hasn’t happened and we can see the market going quite wild, as a result of rising energy and fuel prices,” Barisic said.

Last year, 1,100,000 tonnes of wheat were harvested, of which about 400,000 tonnes of which were used for domestic needs, which shows that there is enough grain for domestic needs and for export, but possible difficulties will arise if there is too much demand globally, which can once again result in price increases.

“Everything is very uncertain and the Croatian bakery sector is in big trouble. We can be calm when it comes to the supply of wheat, but not in terms of prices. It’s likely that, if there is no stabilisation, we will no longer be able to eat even the most basic white Croatian bread at current prices and that the possible price will end up being 15 kuna for a loaf of white bread,” confirmed Barisic.

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