Changes in prices for eggs and oil in Ukraine: Trends and influencing factors

Changes in prices for eggs and oil in Ukraine: Trends and influencing factors

Over the past year, Ukraine has seen significant dynamics in the change in prices for basic food products, in particular eggs and oil. Prices for these important components of the diet of Ukrainians have undergone significant fluctuations, which can be explained by a number of economic and foreign economic factors. Let's consider how the prices for these products changed in 2023-2024 and what factors influence them.

Since the beginning of 2023, prices for chicken eggs in Ukraine have begun to increase. At the end of February, eggs cost almost 70 hryvnias per dozen, which was 25-30% more expensive than at the beginning of the year. A decrease in production volumes due to problems with feed supplies, rising energy costs, and other economic factors became the main reasons for this increase in price. However, as the summer season approached, egg prices decreased slightly. In the summer of 2023, the cost of a dozen eggs ranged from 50 to 60 hryvnias.

Another important product, the prices of which have undergone significant changes, is sunflower oil. In 2022, against the backdrop of the war and the blockade of ports, Ukraine experienced a serious shortage of this product, which led to a sharp increase in prices. In 2023, oil prices stabilized, but remained high. As of the end of August 2023, a liter of oil in stores cost from 70 to 90 hryvnias, which was significantly higher compared to pre-war prices.

The reason for such changes was not only domestic factors, but also global processes in the market. Ukraine, as one of the main exporters of sunflower oil, is feeling the impact of international markets, where oil prices are also increasing due to supply restrictions and low harvests in other countries. In addition, logistics factors and instability in world commodity markets largely determine the cost of this product on the domestic market.

Another important factor affecting the prices of eggs and oil is the changes in the economic situation in Ukraine. High levels of inflation, rising fuel and energy costs, as well as fluctuations in the hryvnia exchange rate affect the cost of raw materials and production, which, in turn, affects the price of the final product. Most farmers and manufacturers admit that the increase in production costs has become a significant factor in the increase in prices.

Forecasts for the next year for the price of oil and eggs are quite uncertain. Experts note that, despite the stabilization of production, factors related to the war may continue to negatively affect the market. In addition, fluctuations in fuel costs, the presence of a shortage or surplus of products may further change price trends. However, if there are no global disasters or political upheavals, the prices of eggs and oil may decrease slightly in the next few months.

Thus, changes in prices for eggs and oil in Ukraine reflect a difficult economic situation, which, on the one hand, is a consequence of global processes, and on the other, domestic challenges. Despite the difficulties, Ukrainian consumers have the opportunity to adapt to new price realities, but for this it is important to monitor economic indicators and market trends.