Sofia, Bulgaria – June 11, 2025 – Cherry sellers at local markets have been fined following an abrupt spike in prices during All Souls’ Day, authorities confirmed.
The State Commission on Commodity Exchanges and Markets (SCSBT) revealed that while wholesale prices remained steady, retail prices for cherries soared to 20-22 leva per kilogram on Saturday, up sharply from 14 leva the previous day.
Vladimir Ivanov, head of the SCSBT, told BNR and the newspaper Sega that the price hikes were primarily the work of small-scale traders in open markets, not large supermarket chains.
“Retail chains maintained stable cherry prices at around 12 leva per kilogram,” Ivanov stated. “The significant increases were observed mostly among individual sellers at local markets.”
However, the fines issued were not solely related to the price increase. Ivanov clarified that the sanctioned traders lacked proper documentation and failed to properly account for their transactions.
“It’s not illegal to adjust prices during high-demand periods,” he said, “but operating without documentation or tax records is a serious violation.”
The surge occurred amid the traditionally strong demand for cherries on All Souls’ Day, which is widely observed in Bulgaria. Ivanov attributed the phenomenon to “the psychology of small traders responding to holiday-driven demand.”
Despite the temporary spike in cherry prices, the broader food market is entering its typical seasonal decline, the SCSBT noted.
However, this year’s decrease in food prices is progressing more slowly due to disruptions in supply caused by adverse weather that impacted the fruit harvest.
Currently, the consumer food basket costs about 110 leva, roughly 2 leva less than last week. The decline is largely driven by lower prices for seasonal produce including tomatoes, cucumbers, potatoes, and cabbage.
In other commodity trends, sugar prices have fallen by about 8% year-on-year, while oil prices have edged up slightly by 10 stotinki.
Ivanov noted that despite the marginal increase, oil prices have dropped by 20 stotinki from their recent highs due to improved supply conditions in Europe, helping to ease the remnants of the earlier oil crisis.
The prices of eggs, dairy products, and fresh milk remain stable. Cow cheese, in particular, has demonstrated consistent pricing over the past year, while fresh milk currently stands at 2.08 leva per liter—unchanged from last year.
Meat prices are showing mixed trends: pork prices are declining, while chicken prices continue to rise.
Meanwhile, Prime Minister Rosen Zhelyazkov weighed in on concerns regarding potential price hikes linked to Bulgaria’s planned adoption of the euro.
Speaking at a memorandum signing event with business and labor organizations, Zhelyazkov emphasized that “switching to the euro does not in itself cause inflation.”
He warned that any unjustified price increases would be considered speculative and monitored closely by government authorities.
“The inflation framework allows price movements only when driven by objective economic factors,” he said. “Any deviation without such grounds will be treated as speculation, particularly when it comes to essential goods and services.”
Bulgaria’s official inflation forecast for 2025 remains below 3%, according to the Finance Ministry.
As the government tightens its grip on speculative practices, both consumers and traders are being reminded of the importance of transparency and regulation in the marketplace.