In August, Ukraine should expect a decrease in food prices due to favorable weather and a good harvest. This was stated in a comment to UNN by economist Oleh Pendzyn, executive director of the Economic Discussion Club.
Food price forecast for August
Currently, food prices are most affected by the season. Everything is getting cheaper and will continue to get cheaper. To give an example, pumpkins and watermelons have fallen in price by 35% in a week. There is approximately the same dynamic for all common products. It should be understood that late white cabbage is expensive, but young cabbage has become cheaper. The process of price reduction is ongoing. The same applies to beets and potatoes. As soon as mass harvesting begins, everything will become even cheaper.
The economist added that now is the period of the lowest prices of the year. At the same time, he expressed hope that the figures would be significantly better than last year, when a poor harvest led to very high prices.
"Now is exactly the season. This is the period of the cheapest prices of the year. This is very good. Moreover, according to certain estimates, this year should be better than the last. If so, then the year-on-year price ratio, for example, in October, November, December, will be lower than in 2024. Last year, prices were extremely high, provoked by a very poor harvest. So the expectations are quite optimistic," the expert explained.
Pendzyn reminded that in 2024, Ukraine faced anomalous heat and drought. This year, on the other hand, promises warmth and rain in exactly the proportion necessary for a good harvest, and therefore - significantly lower prices.
Let's remember what 2024 was like - drought, anomalous heat. Last year, not a single drop of rain fell throughout July. This year, thank God, there is warmth around 30 degrees and there are rains. This is exactly the traditional weather for our latitudes, for our territories. So I think this year we can remain optimistic.
When to expect the lowest food prices
The expert also explained that the harvest season usually begins at the end of June, but due to a too cold spring, it shifted somewhat. In this regard, the lowest prices should be expected in September.
The season starts at the end of June. But since we had a somewhat cold spring, the season shifted by about 15 days. A full-fledged season began in July, which will continue in August and September. It is quite likely that by the end of September, prices will be the cheapest, until we harvest potatoes. And then the lowest price for the borscht set, for vegetables, will be recorded this year. Then we will see how the situation will look in general.