eToro’s Breakfast Commodity Index tracks prices of staple breakfast foods Cocoa prices soared 4x (270%) in just one year, following historically low rainfall in West Africa Orange juice prices have more than doubled due to adverse weather and disease 55% increase in breakfast commodity prices vastly exceeds 5.9% % Romanian CPI increase The cost of commodities that make up a typical breakfast has soared 55% in a single year, led by major spikes in cocoa and pork, the latest Breakfast Commodity Index from trading and investing platform eToro has found. The rate of price growth amongst breakfast food staples dramatically outpaced the 5.9% rise in the Romanian consumer price index (CPI) or the 2.07% increase in food prices over the same period, indicating that consumers are likely to face further price pressures. Ben Laidler, Global Markets Strategist at eToro, said: “Prices of staple foods experienced immense volatility since the pandemic and the onset of the war in Ukraine. While we have seen some of these supply chain pressures subside, extreme weather and disease in the global south have caused heightened volatility in some key breakfast food prices. Cocoa, orange and coffee harvests have been most heavily impacted over the past year, with many producers now running at reduced capacity and turning to reserve stocks where possible. “It’s possible that the seismic price divergence we’re seeing in breakfast food commodities may begin to impact consumer behavior, as the price of some breakfast items such as wheat and milk fall and other items such as orange juice, cocoa and coffee reach record highs.” Cocoa prices have experienced the most dramatic rise of all breakfast-related commodities, increasing by 270% in the past year. Severe drought in West Africa, a region which produces 80% of the world’s cocoa, has contributed significantly to shortage in supply and rising prices. Orange juice has experienced similar weather-induced supply pressures caused by crop disease and extreme weather events in the United States, southern Europe and Brazil, rising 39% in the past 12 months. By contrast, the price of wheat and milk have fallen by 14.4% and 3.9% in the past year.
President Nicusor Dan signed on Thursday the decree appointing Prime Minister Ilie Bolojan as interim Vice Prime Minister on the areas coordinated by Dragos Anastasiu, the Presidential Administration informed.On 27 July, Dragos Anastasiu announced he was stepping down from the vice prime minister office, mentioning that he could no longer accept "being denigrated and thus […]
Prime Minister Ilie Bolojan continued consultations on Thursday with representatives of the Association of Communes of Romania, telling them there is a strong chance to overcome the current difficult period if the approach of "responsibility toward public funds" is maintained."The reform of local public administration will be part of the second package of government measures […]
Financing the National Recovery and Resilience Plan (PNRR) projects will continue for those already initiated and will stop only in case investment has not begun, where not a single euro was spent for construction, Development minister Cseke Attila explained on Thursday. “PNRR will not stop, neither will financing investments which have already been initiated, […]
The Justice Ministry announced on Thursday having developed in cooperation with the Finance Ministry and the National Tax Administration Agency a set of proposals to amend the Insolvency Law, which will be included in the second reform package.Some of the amendments provide for a higher recovery rate of the taxes and fees owed by insolvent […]
Romania is in the antechamber of recession, with the risk that its economy will decline in the third or fourth quarter, especially amid an increase in taxes, a significant drop in sales and record inflation at European level, says business consultant Adrian Negrescu."We are currently in the antechamber of recession. It is a moment […]
The Ministry of Culture announced on Thursday that is set to adapt national legislation for enforcing the European Media Freedom Act (EMFA), which supports media pluralism, editorial responsibility, protects journalists from abusive surveillance and intimidation, and provides protection for sources.According to a Culture Ministry release, the implementation in Romania of Regulation (EU) 2024/1083 of the […]
