The three main reasons for rising food prices in Ukraine are voiced

Published 2021년 4월 6일

Tridge summary

In February 2021, Ukraine saw a significant increase in consumer prices across various food and energy sectors, with sunflower oil leading the surge at 7.6%. Other price hikes included 3.5% for fruits, 6.3% for vegetables, and 1.3% for pasta and butter. The price increase is attributed to rising production costs, higher utilities and energy expenses, and the government's abolition of preferential tariffs. The lack of response from the Antimonopoly Committee has further driven the problem, with farmers withholding produce to capitalize on the anticipated price rise, resulting in grain prices soaring above global market rates. Experts predict consumer goods prices to rise by 15-25% in 2021.

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

Original content

According to the State Statistics Service, the growth of consumer prices in February 2021 as a percentage of the previous month was: 7.6% - sunflower oil; 3.5% - fruits, 6.3% - vegetables; 2.8% - bread; 5.5% - sugar; 1.5% - fish and fish products; 1.3% - pasta and butter. This is stated in the analytical material AgroPolit.com. It is noted that in order to understand the situation in the domestic market, it is necessary to highlight the key points that caused the "domino effect" in the pricing process. The first is the increase in the cost of feed for domestic producers, which causes production consequences. For example, up to 60% of the cost of eggs is formed due to the components for keeping and feeding chickens. The second is an increase in the cost of utilities and energy. Since January, the government has increased electricity tariffs by 36.6% (due to the abolition of the preferential tariff), water supply and sewerage by 10.9% and 17.3%, respectively. This forced food ...

Source: Agropolit