REUTERS
The average price of live pigs in late February was US$1.65 per kilogram against US$1.37 at the end of January.
Chairman of the Board of Directors with KSG Agro Serhiy Kasianov says the price of pork in Ukraine in February 2021 rose by 21% from January 2021, and it will continue its growth at least until the end of the third quarter of the year.
Read alsoPork prices drop significantly in domestic markets
The coronavirus crisis and lockdowns seriously reduced consumer demand for pork. This significantly affected pig farmers, as they planned to sell up to 40% of pigs on the eve of the New Year and Christmas holidays. So, pig breeders, who had failed to sell pork before the holidays, began to reduce their livestock. The price of this meat had dropped to UAH 34 (US$1.22) per kilogram before the holidays.
"Now we are faced with a situation when demand has been reviving gradually since February, while quite an affordable retail price of pork, comparable, for example, to that of chicken fillet, encourages the consumer to go for pork," the expert added.
Forecast for pork prices
Kasianov expressed confidence that with the onset of warm weather and spring holidays, Ukrainians would more often go to barbecues outdoors, which will become an additional seasonal factor in boosting demand for meat.
"But this year, the growth in demand will run into a lack of supply since the livestock has decreased, which means that the price will be rising," he added.
At the same time, the lack of pork supply in Ukraine can no longer be compensated for by imports. Pork demand and prices have risen both in European countries and the United States, so local pig producers need to saturate local markets.
The Ukrainian Stockbreeders Association (USBA) says domestic pig breeders may significantly reduce the number of animals due to the unprofitability of their business and price hikes for animal feed.