Buckwheat prices in Ukraine may rise significantly in 2024, warn experts of the department of agro-industrial development and economic policy of Zhytomyr Oblast. This is due to several factors affecting the production and supply of this crop.

According to "Ukrinform" with reference to information from the department, the sown area of ​​buckwheat in the Zhytomyr region, which is one of the main producers of this crop in Ukraine, decreased by 5 thousand hectares compared to last year, and now amounts to 15.6 thousand hectares. This decrease is related to low purchase prices for buckwheat in the previous season, which made its production less attractive for farmers.

In addition, this year's weather conditions significantly affected the condition of crops. Late spring frosts have delayed the planting campaign, and the current abnormal heat may cause the growing season to end prematurely and reduce yields. This means that the gross production of buckwheat in the region is expected at the level of about 18 thousand tons, which will meet the needs of the region and allow the supply of products to other parts of Ukraine and for export.

Buckwheat prices have fluctuated significantly in past years. In 2022, a ton of buckwheat cost 23,805 hryvnias, but in 2023 the price fell to 10,000 hryvnias per ton, which led to losses for producers. Such instability of prices forces farmers to revise their strategies regarding crops and production of this crop.

Considering all these factors, experts predict that prices for buckwheat of the new crop will increase. Although the exact level of prices will depend on market conditions, it is already clear that producers are expecting positive changes that will allow them to improve their financial performance. At the same time, for consumers, this may mean increased costs for this important food product.

The increase in prices for buckwheat of the new harvest is a complex and multifaceted issue that requires the attention of both producers and consumers. For farmers, this can be an opportunity to renew interest in growing this crop, while for consumers it is important to monitor market trends and adapt their budgets to possible changes in food prices.