Raw material imports increasingly expensive, stoke inflation fears

11/06/2021 10:12 5

Raw material imports increasingly expensive, stoke inflation fears


The rising costs of imported raw materials are pushing up prices and threatening to cause inflation amid the ongoing economic recovery. -

Corn and soy prices have risen by 50-60 percent since the beginning of this year, pushing up animal feed prices.

But the Ministry of Finance dismissed all these fears and said it has anticipated the rising prices of raw materials and feedstock since last year, and unless there are unexpected factors inflation would be kept under 4 percent this year.

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