January 28 2011, 16:09 Fruit-Inform

Ukrainian vegetable market value expected to grow by 25% in the current season

According to forecasts of Fruit-Inform Project, Ukrainian vegetable market value will grow by 25% in the current season, while vegetable market volume will decrease by 2-3%. Growth is expected primarily due to increase of average prices for vegetables to the highest levels for all history of Ukraine.

Analysts forecast Ukrainian vegetable market value to reach UAH 13.0-13.5 billion (EUR 1.20-1.24 billion) in wholesale prices in the season 2010/11. And this means that vegetable market value has grown 3 times over the last 5 years creating excellent opportunities for development of domestic production. At the same time, growth of vegetable market volume was less significant, as it amounted to only 30% over the last 5 years. Such trends are indicative of considerable growth of Ukrainian producers' incomes in this season.

“Those commercial vegetable producers, who succeeded to maintain their crops and harvest their produce, managed to make quite big profits notwithstanding sharp growth of vegetable production costs”, Andriy Yarmak, head of Fruit-Inform Project, tells. “In such a way, vegetable production is paying handsome dividends already 2 seasons in a row that has already led to improvement of vegetable production technological level and construction of great number of modern warehouses”, the expert continues.

However, in advance of the new season, many producers ask themselves: “Will vegetable production be profitable in the season 2011/12?”. Specialists of Fruit-Inform Project are currently conducting the study that will enable to answer such question and focus producers on production of the most profitable crops. Results of this study will be presented to all participants of the third international conference “Potato and Vegetables of Ukraine-2010”. Seed and material and technical resources suppliers' participation in the conference will enable to solve seed issues and conclude produce supply contracts with supermarket chains and wholesale trade representatives immediately.

The conference “Potato and Vegetables of Ukraine-2010” will take place at Shuvar wholesale market, Lvov, Ukraine, February 24-25, 2011.