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Buckwheat shortage expected in Ukraine: what will happen to prices

 Ukraine expects a buckwheat shortage: what will happen to prices

The heat and reduction of crops affected the harvest.

This year, farmers reduced the area of ​​buckwheat crops, in addition, the weather was not favorable for the harvest. This means that a buckwheat deficit is expected in Ukraine.

This was reported to AgroPortal.ua by the executive director of the International Buckwheat Association, Sergei Gromov.

According to preliminary data, today there are 25 million people left in the country, and if we take into account that the average consumption of buckwheat per person over the past 5 years is 3 kg, then the domestic market demand is 75 thousand tons.

“And the gross harvest, which is predicted by the International Buckwheat Association, is 90 thousand tons, accordingly, the domestic market will be provided at the level of 60 thousand tons of buckwheat. Thus, this year's harvest will not cover the needs of the Ukrainian market,” Gromov said.

The price of cereals may rise as early as the fall.

“If the trend towards reducing crops continues next year, then prices may again return to three-digit numbers, as was the case at the end of 2022 – beginning of 2023,” said Oleh Sidorov, Director of the Department of Agro-Industrial Development of the Vinnytsia Regional Administration.

Recall that the day before, the NBU reported that further acceleration of inflation is expected in the coming months due to an increase in business costs for wages and electricity, an increase in excise taxes, and the effects of the transfer of the hryvnia devaluation.

And experts reported that food prices will rise in Ukraine in the near future. Read more about this in the news.

tsn.ua

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