Ukraine predicts a rise in the price of buckwheat in the coming months
23 January 09:58
EXCLUSIVE
Buckwheat, traditionally considered one of the staple foods in the Ukrainian consumer basket, may become significantly more expensive in the spring. After a period of relatively stable prices, the market is entering a phase of expected shortages, which will inevitably put pressure on the retail price of buckwheat. Sergey Gromov, executive director of the International Buckwheat Association (an international association of scientific institutions, producers, and processors of buckwheat and its unique products), spoke about this in an interview with "Komersant Ukrainian".
How buckwheat prices have changed
According to the expert, at the beginning of the current season, which started in September, buckwheat groats in Ukrainian stores cost 30-40 UAH per kilogram. As of now, prices have risen to 40-60 UAH.
“At the beginning of the season, which falls in September, buckwheat groats cost 30-40 UAH per kilogram in stores. Today, it is already 40-60. The price has increased by 30%. In conditions of shortage, it may be even more expensive,” notes Sergey Gromov.
Why buckwheat may become even more expensive in the spring
According to the expert, the current market situation only appears relatively calm at first glance, because consumers are still using stocks from the previous harvest. At the same time, the balance may be disrupted in the near future, which will inevitably affect prices:
“We are still consuming last year’s stocks, but closer to spring, a shortage may arise and prices will rise accordingly.”
Assessing further developments, the expert predicts a new wave of buckwheat price increases in the spring, when the shortage of products will become noticeable on the market:
“I assume that from March to April, we will see an increase in buckwheat prices to 50-70 UAH/kg,” the expert predicts.
What this means for consumers
Under current conditions, Ukrainians should be prepared for cheap buckwheat to disappear from store shelves in the spring, with the average price stabilizing at a higher level.
Against the backdrop of rising household expenses, this could once again make buckwheat an indicator of food tension, as has been the case many times before in the Ukrainian economy.
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