• 12/06/2024 23:43

Banana prices in Ukraine reached a new record: what is the reason

 Prices for bananas in Ukraine reached a new record: what is the reason

Russian aggression led to blocking of ports, which sharply increased prices on the local market.

In Ukraine , as in other Eastern European countries, banana prices are at a record high for this time of year. This has a negative impact on consumption prospects.

Economist of the investment department of the Food and Agriculture Organization of the United Nations (FAO) Andrey Yarmak told analysts of the East Fruit project why prices for bananas have increased and whether they can decrease.

Yarmak noted that the two main reasons for the increase in prices for bananas in East Europe this year.

“The first is climate change, which negatively affects the volume of production of these fruits in Central American countries. As a result, the demand for bananas from Ecuador, which is the main supplier of bananas to Ukraine and other countries in the region, has increased sharply, which has led to rising prices in the second the reason is relatively high prices for apples, which allows retail and wholesale trade to increase prices for bananas,” the expert said.

Currently, the wholesale price for bananas in Ukraine is $1.26 US dollars per kg and exceeded last year's record of $1.23 per kg.

“Ukraine usually has the lowest prices for bananas in the region, but Russia's aggression led to the blocking of ports, which sharply increased prices on the local market, because banana is now imported into Ukraine from ports of other countries,” analysts explained.

Retail prices for bananas in Ukraine range from $1.7 to 1.8 kg.

Analysts noted that, As a rule, in May, a seasonal decline in the level of demand for bananas and their prices in the markets of Eastern Europe begins. However, this season, wholesalers are not sure that it will be noticeable due to the high demand for bananas from Ecuador.

Recall that greenhouse tomatoes have fallen in price in Ukraine. The reason is said to be a seasonal increase in supply from local greenhouses .

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