According to EastFruit analysts, on the last day of June 2020, a significant increase in the supply of new potatoes was observed in the wholesale markets of Ukraine. This leads to pressure on prices.
If in the early morning in the southern regions of Ukraine small-scale wholesale sales of unwashed potatoes were carried out on average at 9-10 UAH / kg (34-37 US cents per kg), then by 10 o’clock in the morning at this price it became difficult to sell potatoes. In some cases, producers agreed to sell large lots of potatoes at a price of 7-8 UAH / kg (26-30 US cents per kg).
For comparison, as early as Friday, the average wholesale price for standard-quality potatoes in Ukraine was about 11 UAH / kg (41 cents), and small wholesale - 12-13 UAH / kg (45-48 US cents per kg). Thus, over the course of a few days, the average price of potatoes fell by an average of 25%.
Recall that in the 2019/20 season, Ukraine became one of the largest importers of potatoes, and prices for it were kept at a very high level throughout the season. The bulk of imported potatoes in Ukraine came from Russia. Potato imports from Belarus were also actively carried out. Given the high price level in the previous season, as well as the uncertainty associated with the coronavirus and the economic crisis, many farmers and homeowners decided to expand the area under potatoes in 2020.