Cyprus Business Now
The agriculture ministry this week launched a new price observatory for fruit and vegetable products named ‘e-Kofini’, aimed at ensuring transparency and fair prices in the local market.
The platform can be found on the agriculture ministry’s website at www.moa.gov.cy/ekofini. It will regularly publish the average selling prices of basic locally produced fruit and vegetable products.
“Data is gathered from both producers and retail points in order to highlight price differences,” a statement released by the agriculture ministry said.
Consumers across Cyprus are “waiting until the last minute” to do their Easter shopping, supermarkets’ association chairman Andreas Hadjiadamou said on Thursday.
Speaking to the Cyprus News Agency (CNA), he said, “little by little, people started coming to their supermarkets, like every Easter. As usual, it will peak today, with more tomorrow and Saturday.
“It always happens like this. It is typical of Cypriots to wait until the last minute during Easter.”
Cyprus’ Producer Price Index in Industry reached 121.5 units in March, with 2021 acting as the base year, set at 100 units, marking an annual decrease of 3.9 per cent, marking the ninth consecutive annual decrease.
According to data released by the Statistical Service, there was also a decrease of 0.7 per cent compared to February 2024.
For the period January-March 2024, the index decreased by 3.3 per cent compared to the corresponding period in 2023.
The Cyprus Statistical Service (Cystat) announced this week that the government’s surplus for the period January-March 2024 reached €523 million, equivalent to 1.7 per cent of the GDP.
This marks an increase compared to the surplus of €376.4 million for the same period in 2023, which represented 1.3 per cent of GDP.
During January-March 2024, total revenue increased by €332.8 million (+11.5 per cent), reaching €3.22 billion compared to €2.89 billion in the corresponding period of 2023.
According to the announcement, the aim of these programmes is to foster scientific excellence by strengthening the production of new knowledge and giving young researchers the opportunity to lead research projects.
The beneficiaries of these programmes include research organisations, enterprises, and other private and public sector bodies.
Cyprus’ Industrial Turnover Index reached 124.3 units in February 2024, with 2021 being the base year, set at 100 units, marking a 5.2 per cent increase compared to the same month in 2023.
According to a report released this week by the Cyprus Statistical Service (Cystat), the index experienced a total increase of 4 per cent for the period of January to February 2024, when compared to the corresponding period of the previous year.