During 2023-2024, the coffee market in Ukraine experienced a number of changes that led to price fluctuations. Since the beginning of 2023, coffee prices have shown steady growth, reaching a peak in the summer. However, the second half of 2023 and the beginning of 2024 saw a gradual decline in prices, which experts attribute to seasonal factors, increased market supply and changing consumer preferences.
In the first half of 2023, coffee prices in Ukraine began to rise. This was due to a number of factors, such as:
The increase in coffee prices on the world market, which caused an increase in the cost of importing coffee into Ukraine, a decrease in the hryvnia exchange rate against the US dollar, which also led to an increase in the price of imported coffee and an increase in the demand for coffee from the population, which is connected with the growing popularity of coffee crops .
In July-August 2023, coffee prices reached their highest level in the last few years. The average price for 100 grams of ground coffee was about 120 hryvnias. This increase in prices negatively affected the purchasing power of the population, which led to a decrease in the demand for coffee.
From September 2023, coffee prices began to gradually decrease. This is due to:
— An increase in the supply of coffee on the world market, which caused a decrease in coffee prices.
-The strengthening of the hryvnia exchange rate against the US dollar, which also led to a decrease in the price of imported coffee.
-Decreasing demand for coffee from the population, which is associated with seasonal factors (cold weather season) and the search for more affordable alternatives.
— The growing popularity of instant coffee, which is cheaper than ground coffee.
Experts predict that coffee prices in Ukraine will continue to remain unstable. The price is expected to fluctuate slightly over the next few months, but is unlikely to return to early 2023 levels.
The price of coffee will continue to be influenced by such factors as:
— Prices for coffee on the world market.
-Hryvnia to US dollar exchange rate.
— Demand from the population.
-Consumer preferences.
It is important to note that the dynamics of coffee prices may differ depending on the type of coffee, brand and region of Ukraine.
According to the State Statistics Service of Ukraine, in January 2023 the average price of ground coffee in Ukraine was 105 UAH/100 g, in July – 122 UAH/100 g, in December – 110 UAH/100 g, and in March 2024 – 108 UAH/100 g.
The most expensive coffee was in Kyiv (125 UAH/100 g), and the cheapest — in the Kherson region (100 UAH/100 g).
