News
06.09.2011
Ukraine's economic news Agriculture Ministry forecasts fall in retail buckwheat price to UAH 12-14 per kg
The Ministry of Agrarian Policy and Food of Ukraine forecasts a reduction in the price of buckwheat in retail trade chains in two or three weeks to UAH 12-14 per kilogram, down from the current UAH 18-19 per kilogram.
The deputy director of the department for economic development and the agricultural market at the ministry, Anatoliy Razhon, said at a press conference in Kyiv on Monday that wholesale buckwheat prices are expected to drop to UAH 5,000-5,500 per tonne, compared to UAH 12,000 in July.
"Today the retail chains have quite large ending stocks of expensive products, and they are not buying the new harvest grain. Everybody is waiting until the expensive products are sold, and than the trend towards stabilization and a reduction [in the price] will be observed," Razhon said, asked about high retail buckwheat prices on the background of a fall by two times in wholesale buckwheat prices.
