Ag Min appeals to NBP govner to abandon further interest rate hikes

Only dairy and beef prices are likely to still go up. Later this week Agriculture Minister Wojciech Olejniczak will try to convince NBP govner Leszek Balcerowicz that as the period of food prices hikes is over the NBP should not try to combat further anticipated inflation due to the increases in food prices by raising interest rates. If farmers do not lower their prices then processing companies would begin to source products from abroad. Lowering food prices would strengthen the position of Poland as one of the leading agriculture products exporters in the EU. This leads to improving efficiency, specialization and lowering costs of transportation. (Rzeczpospolita, pp. A1, B1) M.M.