The excitement in the potato market in Ukraine continues unabated, despite the ongoing harvest of this product in local farms, according to analysts from the EastFruit project. According to the producers themselves, the main factor driving up prices in the potato segment is the reduced yield due to unfavorable weather conditions this past summer. Moreover, farmers note that due to the drought observed in key potato-growing regions, there is a very high percentage of substandard products, which are not suitable for long-term storage.
Currently, Ukrainian farmers are offering potatoes for sale at 17-25 UAH/kg ($0.41-0.61/kg), with prices in Ukraine having risen by an average of 19% in just the past week. The high demand from wholesale companies, which continue to purchase this product intending for storage, remains the primary reason for the price increase in this segment. Additionally, in some regions, heavy rains have complicated the potato harvest, further supporting price hikes for these products.
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It’s noteworthy that today, the price of potatoes in Ukraine is on average 2.8 times higher than during the same period last year. Moreover, major market players are not in a hurry to sell their main volumes of potatoes, as they anticipate even higher prices in this segment in the first half of the current season.
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