Global sunflower crisis: oil prices break records
In March 2025, the average price of a bottle of sunflower oil in Ukraine reached a record 77.5 hryvnias, which is 38% more than in March 2024. Experts attribute this increase to several factors, including a reduced sunflower harvest and increased demand in the global market.
Reasons for the Increase in Oil Prices
The decrease in sunflower harvests in Ukraine and globally has led to a shortage of raw materials for oil production. This, in turn, has caused an increase in prices for sunflower seeds and finished products. Additionally, consistently high demand for oil in the global market affects domestic prices in Ukraine.
Dynamics of Sunflower Oil Prices
According to the Ukrainian Club of Agrarian Business (UCAB), in March 2025, the average price of a bottle of oil was 77.5 hryvnias, which is 4% more than in February of the same year. In retail chains, prices ranged from 31 to 92 hryvnias per bottle, depending on the manufacturer and volume.
Forecasts for Further Price Increases
Experts believe that sunflower oil prices may remain high due to limited raw material supply and stable demand. However, a possible price decrease will depend on future harvests and the situation in the global market.
Impact on Consumers and Recommendations
The increase in oil prices affects household expenses, especially considering that oil is a staple food product in Ukraine. Consumers are advised to closely monitor prices in various retail chains and choose the most advantageous offers.