Confectioners warned of price increases due to the rise in prices for flour, sugar, and butter in Ukraine

Published 2020년 11월 5일

Tridge summary

The Association "Ukrkondprom" has announced that national confectionery manufacturers are experiencing significant price pressure, particularly with products that use flour. This is due to increased raw material costs, leading to around UAH 40 million in losses over the past month. The association predicts a potential price increase of 8-10% for flour confectionery products in November and December, which could result in a decrease in domestic consumption by 15 thousand tons and the loss of approximately a thousand jobs. Additionally, the price increase is expected to weaken the competitive advantages of these products in foreign markets and slow down the growth rate of exports.

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Original content

This statement was made by the President of the Association "Ukrkondprom" Oleksandr Baldynyuk, the association said. According to him, the most painful price pressure is experienced primarily by the so-called "social confectionery": biscuit, lingering and sugar cookies, crackers, since flour has a large share in the cost of these products. As the head of Ukrkondrom noted, national confectionery manufacturers have already received additional losses in the amount of approximately UAH 40 million over the past month, as a result of an increase in the cost of raw materials, and with no other way out except for an increase in prices for their products. Alexander Baldinyuk predicts that the rise in prices for flour confectionery products may vary in the range of 8-10% in November-December 2020, which will lead to a decrease in domestic consumption by 15 ...

Source: AgroPortal.ua