In recent years, food prices in Ukraine have risen faster than in EU countries, reflecting general trends in global food markets.
This is stated in the inflation report of the National Bank of Ukraine.
Since 2016, food prices in Ukraine have increased on average by 79% (in euro equivalent), while in EU countries the increase was only 46%.
At the same time, the price dynamics across specific product groups were uneven. Prices for bread and cereals, fruits and vegetables, and freshwater fish remain lower than in Europe, thanks to lower costs for raw materials, labor, and logistics. Sunflower oil is also 20-25% cheaper than in Poland due to developed domestic production.
In contrast, prices for butter in Ukraine are relatively higher than the European average — 20-25% more compared to Poland. This is due to the high production costs and significant state support for agricultural producers in EU countries.
Livestock products show contrasts: pork and dairy products are more expensive than in Poland due to structural problems in the industry, while poultry meat and eggs are cheaper thanks to the efficiency of large producers and economies of scale.
The regulator notes that the speed of price convergence is partly determined by the purchasing power of Ukrainian consumers. A rapid approach of basic food prices to European levels could cause a significant drop in domestic demand or a shift to cheaper substitute goods.
