Future harvest at risk: should we expect new price records?

In Ukraine, it is anticipated that the 2025 grain and other crop harvest may be lower than initially planned. This may lead to a further increase in food prices. This information was announced by Serhiy Nikolaychuk, Deputy Chairman of the NBU, during a briefing.

In 2024, a significant decrease in the harvest has already caused a sharp increase in prices for many goods. However, according to Nikolaychuk, if the situation repeats, it is predicted that citizens will not suffer such a decisive blow to their finances.

The Deputy Chairman of the National Bank noted that even in a pessimistic scenario, as was the case last year, it will be easier to contain inflation for food products due to imports. “Prices in Ukraine have already reached the European level, and for some products, they are even higher, so farmers have no room for further price increases,” Nikolaychuk emphasized.

He also recalled that after the spring frosts, it becomes clear that part of the harvest of some crops will be lost. A repeat of last year’s surge in food inflation may be avoided this year thanks to this factor.

Among the current news is the increase in prices for basic products, such as sunflower oil, flour, sugar, and eggs, as well as sausage, bread, and cheese, which has surprised consumers with their rising costs. Thus, budget products are becoming more expensive, turning into delicacies on supermarket shelves.