Cherries prices in Ukraine are falling rapidly due to deterioration in their quality
The commercial market of Ukraine is experiencing significant changes in the price situation for the popular summer variety of cherries. Due to adverse weather conditions, which have led to a significant deterioration in the quality of the berries, the situation on the market is becoming significantly more complicated, and prices are falling rapidly. This is reported by analysts from the EastFruit project, which monitors the situation on the domestic fruit and vegetable market of the country. According to their information, last week, average wholesale prices for cherries in Ukraine ranged from 140 to 200 hryvnias per kilogram ($3.37-4.81/kg). However, this week these indicators have already begun to decline rapidly, especially in the southern and central regions. As of June 27, prices have dropped to between 115 and 160 hryvnias per kilogram ($2.77-3.85/kg), an average of 18% compared to a week ago. Experts note that the current season on the sweet cherry market is characterized by a high percentage of substandard products. As a result of this situation, many producers are forced to reduce prices in order to quickly sell the berry, which has lost its consumer and marketable qualities due to frequent rainfall and bad weather conditions. “Abundant rainfall has significantly reduced the quality characteristics of sweet cherries, and the short period of sale of such products forces producers to look for quick ways to sell. Therefore, most of them decided to reduce prices in order to speed up the sales process and exit the market quickly,” analysts explain. It is also worth noting that compared to the same period last year, prices for Ukrainian sweet cherries have increased by almost 95% on average. This indicates a rapid price increase due to high demand and limited volume of high-quality berries. However, experts and market participants are already predicting further price reductions in the coming weeks. The reason for this is not only the increase in the supply of cherries against the backdrop of deteriorating quality, but also a decrease in demand due to weak consumer interest in low-quality products. Recall that the initial cost of cherries in Ukraine in the first weeks of the season ranged from approximately 250 to 300 hryvnias per kilogram. Now, taking into account the current situation, price indicators have decreased significantly, and many sellers are already offering their berries at this cheaper price range. It is expected that the market situation will remain tense in the coming days and weeks: demand is decreasing, supply is increasing, and product quality leaves much to be desired. Therefore, further price reductions in cherries are quite likely and may not be an avoidance, but a natural consequence of the current weather cataclysms and a decrease in the consumer appeal of the berry.