Forex and Local Prices: Ukrainian Fruit, Vegetable Costs Rise in May and Beyond

No time to read?
Get a summary

Prices for fruit and vegetables sourced from Ukrainian farmers reached new highs in May after a slowdown in April, according to reports from Strana.ua. For instance, the price for one kilogram of strawberries ranged between 600 and 650 hryvnia, roughly double the level seen in Greece. Fresh young potatoes sold for about 180 to 200 hryvnia per kilogram, also about twice the price prevailing in Egypt. These observations underscore a broader trend in pricing across the sector noted by the publication. In Russian currency terms, strawberries in Ukraine cost around 1314 to 1423 rubles per kilogram, while potatoes traded in the 395 to 438 ruble range.

The article notes that cabbage, carrots, and apples also climbed in price during May. It adds that onions in Ukraine may now be the most expensive in Eastern Europe, reflecting a regional price pressure that has affected multiple staple vegetables.

Farmers attributed the price tags to rising input costs and not to profit margins alone. They point to sharply higher expenses for fertilizers, seeds, and crop protection products, with planting costs up significantly year over year by about 40 to 50 percent. Some market positions are already experiencing shortages in certain areas due to recent frosts, a factor that could push prices higher in the near term. The piece quotes industry signals that producers are likely to continue adjusting prices as these cost pressures persist, impacting availability in some regions and potentially delaying harvests in others.

In a related segment, a television channel report indicated that the so-called borscht set experienced roughly a 30 percent price increase across Ukraine. Denis Marchuk, head of the All-Ukrainian Agricultural Council, explained that electricity costs contribute to the overall rise in vegetable prices, adding approximately 10 to 15 percent to production costs and driving a noticeable jump in consumer prices. The overall effect, the report suggested, was a 30 to 35 percent rise in food costs across the country.

Historical data from October 2022 show that the highest price point for salted bacon in Ukraine since 2017 occurred at the start of that month, when the national product was listed at about 258.7 hryvnia per kilogram, equivalent to around 429 rubles. Reports indicated a continued upward trend in lard prices since September, with a notable increase that had raised the cost of homemade lard to 199 hryvnia, approximately 330 rubles, reflecting ongoing inflationary pressures within the domestic market.

No time to read?
Get a summary
Previous Article

US Senator Cruz Pushes Sanctions to Block Russia-Iran Cooperation

Next Article

Russia's Inflation Outlook and Central Bank Projections for 2024: A Closer Look