There is a significant decrease in prices for local cherries in the Ukrainian market. Experts note that the supply of this berry is gradually increasing, but this is accompanied by a drop in value.
This is reported by Finway
Reasons for the Price Drop of Cherries
Currently, prices for cherries in the domestic market of Ukraine range from 140 to 200 UAH per kilogram (equivalent to $3.36-4.80/kg), which is 13% cheaper compared to the end of the previous working week. The main reasons for this price decline are weather conditions and product quality: over the past week, rainy and cool weather has persisted across almost the entire country, negatively affecting the quality of the berries.
“Due to increased humidity, the berries on the trees crack, making it practically impossible to sell such products at high prices,” experts note.
Impact of Demand and Weather Conditions
Due to unfavorable weather conditions, the market is predominantly receiving cherries of medium and low quality. In addition to weather factors, the price dynamics are also influenced by relatively low demand for this product, which is observed against the backdrop of a gradual increase in supply volumes.
Experts are concerned about further heavy rainfall, which could negatively affect not only the quality but also the overall volumes of the cherry harvest. This creates risks of new price fluctuations in the berry market in Ukraine.
Despite the decrease, prices for local cherries currently remain three times higher than during the same period last year.