Supermarkets have not received any information or requests in connection to intended increases in product prices so far, expressing the hope that, despite the expected increases in energy costs, there will be no price increases in basic items in the near future.
Speaking to InBusinessNews, the Executive Secretary of the Pancyprian Association of Supermarkets (PASYPE) Andreas Hadjiadamou stressed the need to exercise caution and composure, noting that the market should move according to developments, which are changing rapidly.
"We must be very careful and see how events unfold. Increases in energy and fuel may be expected - although there are still stocks and old loads - but at present, any increased prices in the supermarket sector are not justified and we have not received any requests from suppliers to differentiate product prices," Hadjiadamou pointed out.
There is enough, there is no need to panic
Asked if there is any unrest among consumers and whether there are issues with product adequacy, the Executive Secretary of the PASYPE gave assurances that everything is going smoothly ad supply is being carried out at a normal pace, explaining that the isolated cases of increased and/or unjustified purchases lasted only the first twenty-four hours of the outbreak of the crisis in the Middle East, while the temporary product shortages that were observed were immediately replenished.
"It is not true that there is panic or turmoil in the market. We should learn lessons from similar crises of the past and if we work correctly, taking into account consumer psychology and the pulse of the market, then we will overcome this crisis too," Andreas Hadjiadamou underlined, emphasising that, as in similar situations in the past, supermarkets will intervene in the event that some people aspire to exploit the current situation by imposing unjustified price increases.
Keeping calm over foot and mouth disease – There are also imports
The Executive Secretary of the PASYPE also recommended calm on the issue of foot-and-mouth disease, emphasising that developments will determine the data in the market.
At the same time, although no shortages of meat have been observed so far, if necessary, supermarkets will resort to imports, as there is no intention of the market reaching a dead end, especially in view of the Easter period.
"Supply continues normally and we expect that appropriate measures will be taken to limit the spread of the virus. We always act with the consumer in mind and if necessary, alternative methods, such as imports, will be used," Hadjiadamou noted.
It is worth mentioning that the import solution has been used over time by supermarkets both in similar periods of crisis and in cases of normal market conditions in which intentions for increases were not justified.
(Source: InBusinessNews)
