Pea prices added 40% to last year in Ukraine

Published Dec 11, 2020

Tridge summary

A report by APK-Inform news agency explains the significant increase in pea prices in Ukraine's ports, with prices ranging from 8300–8600 UAH / t CPT-port, a notable increase of 37-43% compared to the previous season. This price hike is attributed to a 15% decrease in production due to reduced acreage and lower yields caused by unfavorable weather conditions. Additionally, increased competition among traders and processors, reduced sales by farmers, and heightened demand from imporers, particularly EU countries, have contributed to the rising prices. The limited supply of pulses from farmers and high processing costs have prevented a significant price drop, despite a brief price reduction in November following a decrease in exports.

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Original content

It was reported by APK-Inform news agency. “The current situation is primarily due to a 15% decrease in the production of this crop due to a decrease in acreage and an 8% decrease in the average yield against the background of unfavorable weather conditions. The rise in prices was facilitated by the growing competition between traders and processors against the backdrop of restraining sales by farmers, as well as the increased demand of importers (especially from the EU countries) in October, ”Anna Tanskaya, head of the local markets department of APK-Inform news agency, commented on the situation. As of December 10, demand prices for peas in the ports of Ukraine are mainly fixed in the range of 8300–8600 UAH / t CPT-port, which is 37-43% higher than the figures for the same date of the last season. “In November, the rate of export of peas from Ukraine has noticeably ...

Source: AgroPortal.ua