Economy

Oil prices to rise in Ukraine: reasons

A slight rise in the price of vegetable oil is expected in Ukraine. The product, which Ukrainians use for cooking many dishes, will increase in price in August.

This was reported by Novosti.LIVE. It was reported by "Komersant Ukrainian".

The cost of oilseeds has already increased in the agricultural market, as active exports of these products abroad have begun. However, the reason for the rise in price of oil on the domestic market, as explained by the head of the Union of Ukrainian Peasants Ivan Tomych, is slightly different.

“Will the price of sunflower oil increase on the domestic market? Yes, but I don’t think it will be significant. During the preservation season in August, when there is a high demand for oil among the population, the price may fluctuate within a few hryvnias. But there will be no significant price increase,” the expert assured.

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