Potato prices in Ukraine continue to rise rapidly, which is caused by limited supply on the market. Farmers, faced with the challenges of this season, are selling small quantities of the vegetable as most of the harvest is put into storage.
EastFruit analysts report that current wholesale prices for potatoes range from UAH 15-20/kg ($0.36-0.48/kg), which is 18% more expensive than last week. Producers point to significant demand that exceeds supply, causing prices to rise further. Farmers choose to deposit maximum volumes of quality products for long-term storage, believing that this will help them avoid losses in the future.
The situation on the market is also complicated by reports of a sharp decrease in potato production in the northern and central regions of Ukraine due to drought. Compared to the same period in 2023, when potatoes were sold on average 65% cheaper, current wholesale prices are the highest in at least the last 7 years.
Producers believe that the reason for the increase in prices is related to the decrease in yield due to unfavorable weather conditions during the growing season, in particular, hot and dry weather that lasted throughout July.
