Borscht is becoming more expensive: record prices for main ingredients

Traditional Ukrainian borscht is becoming increasingly expensive. Prices for the ingredients have increased significantly, and the current “borscht index” of 196 hryvnias is 27% higher than last year.

Maksym Hopka, an analyst at the Ukrainian Agrarian Business Club, will present his analysis of the situation. He notes that the main reason for the increase in the cost of a borscht set was the rise in the price of vegetables. The highest prices were observed in early May, when the market was dominated by imported vegetables, and domestic stocks had already run out. Then, the “borscht index” rose to 222 hryvnias.

Now, prices are starting to fall due to the appearance of Ukrainian products on the market. Still, onions remain expensive – about 40 hryvnias per kilogram, despite the harvest already being underway in the fields.

Additionally, the situation in the meat market is concerning. In particular, pork prices have increased significantly due to the reduction in livestock at the beginning of the year. Currently, the cost of a neck varies from 330 to 360 hryvnias per kilogram. Beef prices also continue to rise, with a potential increase of 10-20 hryvnias shortly. In general, the prices of meat and meat products increased by 5.4% in May.

Previously, experts noted that inflation is gaining momentum, and further growth in food prices is not far off.