Ukrainian stats agency: Potato prices surged sharpest in 2023 while buckwheat plummeted
According to data released by the Ukrainian State Statistics Service on Jan. 19, the price of potatoes rose sharply in 2023, while the price of buckwheat fell dramatically.
The prices of goods and services in Ukraine's consumer price index showed significant volatility in 2023, with buckwheat, onions, and carrots registering the biggest declines. By contrast, the cost of potatoes, , apples, and the price of kindergarten rose substantially.
Danil Getmantsev, chairman of the parliamentary tax committee, said in a Telegram message that the significant drop in buckwheat prices was due to a major increase in its supply.
"According to the Institute of Agrarian Policy, the area planted to buckwheat increased 15% in 2023, while the overall harvest grew 40%," said Getmantsev.
"As for potatoes, many factors played a role in the price increase during the year: reduced supply, poor quality of planting material and harvest, and insufficient storage capacity.”
Getmantsev noted that potato prices would likely continue to rise over 2024, prompting imports from EU counties. He expected buckwheat prices to rise as well.
What is good for the consumer is not always good for farmers, whose buckwheat cultivation was unprofitable last year. As is often the case, this year we will probably see a reverse trend in buckwheat prices due to a drop in the planted area,” Getmantsev noted.
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