Philenews

Market on Edge: Fear of Developments Empties Shelves in Supermarkets – Traders Reassure

Published March 6, 2026, 12:18
Market on Edge: Fear of Developments Empties Shelves in Supermarkets – Traders Reassure

A sense of uncertainty prevails among Cypriot consumers due to escalating geopolitical tensions, leading to preemptive purchases of basic goods. Supermarkets are experiencing increased traffic, with consumers stocking up on dry food, baby products, and other essentials. Videos of empty shelves on social media are exacerbating the phenomenon. The General Secretary of the Pan-Cypriot Association of Retail Trade (PASYLIE), Marios Antoniou, assured that there is no issue of shortages, as stocks of basic products cover at least 30 days. Any temporary shortages are due to the time required to replenish products, not a lack of them. Price increases are also not justified, with inspectors from the Ministry of Commerce monitoring prices. However, Mr. Antoniou expressed strong concern about the outbreak of foot-and-mouth disease, which would disrupt the supply chain and lead to price increases in meat. The market is currently served by domestic production, but a Plan B is needed. In addition, cancellations of bookings in tourism are being recorded, mainly from England, due to the uncertainty. The duration of the war will determine the extent of the economic damage, as retail trade depends on tourism. The situation is worrying in all sectors, and the economic damage will depend on the evolution of geopolitical events.