Information for fruit and vegetables business in CIS
Ukraine: hryvnia devaluation affects vegetable growers' profit
A jump in vegetable prices has encouraged Ukrainian growers in early January, as produce prices have seriously gone up compared with the beginning of the harvesting and storage campaign, according to Fruit-Inform. At the same time, an increase in prices in the US dollar equivalent was less significant due to sharp devaluation of the Ukrainian hryvnia.
The most significant increase in vegetable prices in the US dollar equivalent was registered in the white cabbage segment: up by 50% since November 2014. At the same time, prices of carrots and table beets have gone up by 25%, and onions have become just 10% more expensive since September 2014.
The worst situation is observed in the potato segment, as potato prices have gone down by 30% in the US dollar equivalent since September 2014.
Fruit-Inform analysts believe that fluctuations in the Ukrainian hryvnia exchange rates and an increase in credit rates put the 2015 sowing campaign at threat. Many seed companies and agrichemistry suppliers have fixed their prices in the US dollars last year. However, now those products are significantly more expensive in the Ukrainian hryvnia equivalent due to the devaluation of the national currency in Ukraine.
More detailed information about the trends observed in the Eastern European market for potatoes and traditional vegetables (onions, white cabbage, carrots, table beets) will be presented at the 7th International Conference «Potatoes & Vegetables of Ukraine-2015» to be held on February 27, 2015, Kiev, Ukraine.
More detailed information about the event, preliminary program, conditions of participation and application form are available on www.fruit-inform.com.
Would you have any questions regarding the event, please contact International Relations Department of Fruit-Inform:
Mr Ievgen Kuzin
tel: +380 (562) 321595, ext. - 341
cell: +380 96 5836323
email: [email protected]