Ukraine war causes Croatian retail to wear off prices
Confection
Croatia
Ukraine
Market & Price Trends
Innovation & Technology
Caio Alves
Published Mar 11, 2022
The conflict started impacting private label and confectionery products in the supermarket chains. For example, the prices of hazelnut cream and cocoa-based products have fallen an average between 27% and 36% WoW respectively, closing at USD 6.27 per kg retail price, before its USD 8.6 per kg average, and chocolate bars going from 5.7 to USD 3.64 per kg. Demand seems to be leaning on the non-perishable basic items, such as beans, pulses, rice, corn, and its derivatives, as most didn't show any changes in the last couple of weeks.
Also, the processing of IQF vegetables faces the consequences in retail marketing and negatively impacts the Russian-Ukrainian crisis led by the sanctions imposed on Russia. The scope and intensity of those consequences cannot be assessed or quantified up to this moment, but it is believed markets of Russia and Ukraine contribute to an average of 6% of the sales. The shifting has caused prices to fall 18% WoW for a frozen vegetable blend of carrots, broccoli, onions, and potatoes. Other items such as animal protein and seafood also presented sharp 2-digit declines.
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