Purchase prices for buckwheat in Ukraine have almost doubled

Published Oct 30, 2024

Tridge summary

Buckwheat purchase prices in Ukraine have nearly doubled this year, reaching UAH 15,000 per ton, due to reduced planting areas and a dry summer. This has led to an anticipated increase in the product's retail price, with stores holding onto existing stocks before raising prices. The director of the "Ozeryanka" grain factory predicts a new batch of buckwheat groats could cost between UAH 30-35/kg, equivalent to approximately UAH 37-40 in retail chains. Despite these price hikes, Ukraine is expected to have enough buckwheat for both domestic consumption and exports, which have seen a 2.7-fold increase in the first nine months of the previous year, compared to the same period in the year before.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Buckwheat purchase prices in Ukraine have almost doubled this year - up to UAH 15,000 per ton, which will lead to an increase in the price of the product on store shelves. Anna Bosyuk, director of the "Ozeryanka" grain factory, told about this, reports Ukrinform. "This year, the area under buckwheat was reduced. The summer was dry, because of which the crops were not filled with the nature that the agrarians expected and that we hoped to get in our production. Now there are still remnants of last year's buckwheat harvest, and farmers are holding it, waiting for the price to rise, so that they can sell it more expensively. And if before the start of the new buckwheat harvest, we bought grain for approximately 8-10 thousand UAH per ton, now it is approximately 15 thousand UAH per ton," said Bosyuk. She noted that stores cannot react so quickly to a price increase, because they have significant leftovers that they are selling. Instead, the new batch of buckwheat groats is already ...

Source: Agrobusiness