The Pancyprian Retail Trade Association (PASYLE) has expressed its satisfaction with the implementation of a zero VAT rate on meat, poultry and fish from 1 April, with these products being added to those already subject to a zero VAT rate such as fruits and vegetables, noting that the measures announced by the government are expected to provide some relief to shoppers.
In his statements to InBusinessNews, the General Secretary of PASYLE Marios Antoniou said that any measure that relieves consumers from the increased costs they are already burdened with contributes to preserving purchasing power, which in turn is reflected in the market. “When measures are announced that relieve consumers, we must express our satisfaction and welcome them. Of the measures that were announced, the addition of meat, poultry and fish to the zero-VAT products are connected to supermarkets,” he pointed out, emphasising that clarifications are expected as to whether the specific list includes both processed products and frozen products.
At the same time, the food retail industry will engage in an overnight race to have the new prices appear on shelves on 1 April 1 remain in place until 30 September, 2026. "The changes will have to be made in the evening/after midnight, as prices will change substantially from one day to the next. Despite the workload that supermarket staff will be tasked with, a change in pricing policy that will relieve consumers and strengthen their purchasing power is always positive," Antoniou noted.
Gas prices spike – Increased lamb imports ahead of Easter
The receipt of products and the adequacy of the market continue at a normal pace, assured the general secretary of PASYLE, clarifying, however, that an increase is recorded in the prices of LPG gas cylinders. Specifically, from approximately €18/10kg (replacement) which was the cost before the start of the war in the Middle East, the cost for a cylinder has skyrocketed to around €24, recording an increase of €4 - €5. Despite the request of retailers for the inclusion of LPG gas in the relief measures announced by the government, however, this has not been possible.
At the same time, meat and dairy products are in sufficient supply, with lamb and goats, however, being an exception. In this context, supermarkets are carrying out the necessary processes and planning for increased imports in order to meet demand, which reaches its peak during the Easter holidays.
"Greece may be facing its own issues, with various areas having been quarantined due to the detection of foot-and-mouth disease cases, resulting in increased prices for lambs and goats entering the Cypriot market, however, supermarkets will, as always, do everything in their power to absorb a portion of the increased cost so that the final price is not a deterrent for the consumer," Marios Antoniou said.
At the same time, he described as exaggerations the reports and estimates that the cost of Easter lamb will exceed €16 - €17 per kilo. "Clearly, we will buy from Greece at higher prices than usual. However, we are trying over time to absorb a large part of the cost in order to provide the product to consumers as cheaply as possible," he explained.
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(Source: InBusinessNews)
