Increase in biscuit prices in Ukraine: Forecast for 2023

Biscuit producers in Ukraine are cautious about raising prices for their products, as this can lead to a loss of sales. Olha Koliadiuk, Deputy Marketing Director at Kyiv Khlib LLC, told Delo.ua that biscuit prices are expected to rise by 7-10% in 2023.

Thus, biscuit prices will change along with the depreciation of the hryvnia and will not exceed the annual inflation forecast.

In order to avoid a sudden price increase, manufacturers are reducing packaging volumes while maintaining the psychological comfort of consumers. However, manufacturers are constantly in a difficult contradiction: to ensure adequate quality of goods at an affordable price and to maintain their own profitability. In times of war, this balance is becoming increasingly difficult, and some products have to be temporarily discontinued.

According to the company's representative, the Ukrainian biscuit market began to rebuild in 2020, when the global COVID-19 epidemic forced consumers to change their habits. Consumers stopped spending time in groups and began to isolate themselves. They also prefer promotional offers, large "family" packages, and buying more cookies at once. This trend remains relevant today, even in the face of a full-scale Russian invasion.