During the last three weeks, Ukrainian gardeners have been actively reducing the prices of apples of autumn varieties

During the last three weeks, Ukrainian gardeners have been actively reducing the prices of apples of autumn varieties. This situation is due to several factors, including an oversupply in the market and weak demand from consumers. This information is provided by the analysts of the EastFruit project, who note the general tendency to decrease the cost of fruit.

Currently, the price of high-quality varietal apples ranges from UAH 12-18/kg (approximately $0.29-0.44/kg). This is a 15% decrease compared to the previous week. This dynamic is due to the fact that producers are trying to quickly sell the harvest, especially apples of autumn varieties, which cannot be stored for a long time. Because of this, gardeners are forced to quickly react to the situation on the market, gradually reducing prices.

Experts note that apple prices have almost reached the level of the same period last year. However, despite the cost reduction, the market is yet to show a significant increase in demand, which puts additional pressure on prices.

It is important to note that initial forecasts for the 2024 apple harvest were less optimistic due to adverse weather conditions in the spring and summer. Earlier, analysts reported that this year's harvest will be lower than last year's, which could cause prices to rise. However, given the current market situation, it did not work out.

In addition, a similar situation is observed in the European Union. Experts predicted that the apple harvest in 20 key EU countries in 2024 will decrease by 11% compared to last year, which was already low (10.2 million tons against 11.5 million tons in 2023). The harvest is also expected to be 14% below the average of the last three years, which will have a significant impact on prices in Europe.

Thus, the situation on the apple market both in Ukraine and in Europe is difficult. Low demand and excess production lead to lower prices, but future price adjustments are possible due to the impact of existing factors such as reduced harvests.