Food prices not dropping yet

Market conditions at this stage do not favor a de-escalation in food prices anytime soon, warned the president of the Association of Greek Food Industries (SEVT), Ioannis Jotis, on Monday.

"The geopolitical turmoil is consolidated. Inflationary pressures continue to take their toll. The negative effects are not easy to reverse immediately," he pointed out meaningfully at the SEVT annual general meeting.

He also argued that "there are factors that bring us face to face with issues of sustainability this year as well," adding that they are the increased costs, the reduced purchasing power, the obstacles to the absorption of financial tools, the difficulty in finding employees, the limited absorption of resources for research and development, but also the demographic problem.

Given his company's focus on baby food, Jotis specifically addressed the demographic...