21:14 / 04.04.2022
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Kun.uz analyzes food price changes over a year

According to official statistics, over the past year, sunflower oil has risen in price by 26.9%, cottonseed oil by 28.9%, sugar by 36.6% and bone-in beef by 8.5%.

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In March 2022, goods and services in the consumer sector rose in price by an average of 1.5%, bringing the annual inflation rate to 10.5% (respectively, the inflation rate in the food sector was 14.5%).

Food products topped the price and tariff growth last month, with prices rising by an average of 2.5% during the month. Based on the data provided by the Statistics Committee, Kun.uz analyzed price changes for basic foodstuffs.

Sunflower and cottonseed oil

Compared to March 2021, the price of sunflower oil increased by 26.9%, and the price of cottonseed oil increased by 28.9%. As of March 30, 2022, 1 liter of sunflower oil is sold in the central markets of the republic in the range of 14-25 thousand soums. During March, sunflower oil rose 3.1%.

For information, the export of sunflowers from Russia has been banned since April 1. Also, from April 15, a quota of 1.5 million tons of sunflower oil may be included in exports. The restrictions are valid until August 31. About half of Uzbekistan’s annual demand for vegetable oil is met by imports, and about two-thirds of total imports come from Russia, which could push up prices in the domestic market.

Sugar

Sugar prices rose by 36.6% year-on-year, 14.5% compared to December 2021 and 12.8% in March this year.

As of March 30, 2022, 1 kg of sugar is sold in the central markets of the country in the range of 8.5-14 thousand soums.

According to the Ministry of Economic Development and Poverty Reduction, the sharp rise in sugar prices in March was driven by increased demand pressure in the domestic market due to restrictions imposed by the Russian government on sugar exports and expected disruptions in the retail sector. Reportedly, domestic production capacity can fully meet domestic demand.

Rice and wheat flour

On an annualized basis, rice prices fell by 0.4%, while wheat flour rose by 11.2%. In March alone, wheat prices rose 2%.

According to the Ministry of Agriculture of Uzbekistan, by the end of 2021, 2 million 771 thousand tons of wheat and 357.7 thousand tons of flour were imported by the private sector, mainly from Kazakhstan. According to Kazakh Agriculture Minister Erbol Karashukeyev, the neighboring republic is working to impose temporary restrictions on wheat and flour exports to protect the domestic market. This may put additional pressure on the price of flour products.

Bone-in beef

It is noted that bone-in beef has risen in price by 8.5% compared to March 2021.

According to the State Statistics Committee, as of March 30, 2022, 1 kg of bone-in beef is sold in the central markets of the country in the range of 45-70 thousand soums.

On an annualized basis, mutton also rose 8.1%, while prices remained unchanged during the past March. According to the latest data of the State Statistics Committee, mutton is sold in the markets for 55-80 thousand soums. Official data show that meat products are mainly grown by local producers in Uzbekistan. Price increases may be affected by rising prices for barley, wheat and other animal feed.

For information, in 2021, Uzbekistan imported meat products (chicken) worth $188 million (an increase of 84% compared to 2020).

Eggs, butter and milk

Since March last year, the price of eggs has risen by 4.4%, butter by 13.4% and milk by 16.4%. Compared to December 2021, egg prices fell by 3.7%. Prices for butter rose by 4.2% and milk by 4.7%.

In addition, according to the analysis of the Ministry of Economic Development and Poverty Reduction, on March 1-31 this year, kiwis became cheaper by 2,500 soums, mandarins - by 1,500 soums, mung beans - by 1,250 soums, potatoes (imported), beets, radishes - by 500 soums and rice (alanga) - by 250 soums.

Kun.uz analyzes food price changes over a year

According to official statistics, over the past year, sunflower oil has risen in price by 26.9%, cottonseed oil by 28.9%, sugar by 36.6% and bone-in beef by 8.5%.

In March 2022, goods and services in the consumer sector rose in price by an average of 1.5%, bringing the annual inflation rate to 10.5% (respectively, the inflation rate in the food sector was 14.5%).

Food products topped the price and tariff growth last month, with prices rising by an average of 2.5% during the month. Based on the data provided by the Statistics Committee, Kun.uz analyzed price changes for basic foodstuffs.

Sunflower and cottonseed oil

Compared to March 2021, the price of sunflower oil increased by 26.9%, and the price of cottonseed oil increased by 28.9%. As of March 30, 2022, 1 liter of sunflower oil is sold in the central markets of the republic in the range of 14-25 thousand soums. During March, sunflower oil rose 3.1%.

For information, the export of sunflowers from Russia has been banned since April 1. Also, from April 15, a quota of 1.5 million tons of sunflower oil may be included in exports. The restrictions are valid until August 31. About half of Uzbekistan’s annual demand for vegetable oil is met by imports, and about two-thirds of total imports come from Russia, which could push up prices in the domestic market.

Sugar

Sugar prices rose by 36.6% year-on-year, 14.5% compared to December 2021 and 12.8% in March this year.

As of March 30, 2022, 1 kg of sugar is sold in the central markets of the country in the range of 8.5-14 thousand soums.

According to the Ministry of Economic Development and Poverty Reduction, the sharp rise in sugar prices in March was driven by increased demand pressure in the domestic market due to restrictions imposed by the Russian government on sugar exports and expected disruptions in the retail sector. Reportedly, domestic production capacity can fully meet domestic demand.

Rice and wheat flour

On an annualized basis, rice prices fell by 0.4%, while wheat flour rose by 11.2%. In March alone, wheat prices rose 2%.

According to the Ministry of Agriculture of Uzbekistan, by the end of 2021, 2 million 771 thousand tons of wheat and 357.7 thousand tons of flour were imported by the private sector, mainly from Kazakhstan. According to Kazakh Agriculture Minister Erbol Karashukeyev, the neighboring republic is working to impose temporary restrictions on wheat and flour exports to protect the domestic market. This may put additional pressure on the price of flour products.

Bone-in beef

It is noted that bone-in beef has risen in price by 8.5% compared to March 2021.

According to the State Statistics Committee, as of March 30, 2022, 1 kg of bone-in beef is sold in the central markets of the country in the range of 45-70 thousand soums.

On an annualized basis, mutton also rose 8.1%, while prices remained unchanged during the past March. According to the latest data of the State Statistics Committee, mutton is sold in the markets for 55-80 thousand soums. Official data show that meat products are mainly grown by local producers in Uzbekistan. Price increases may be affected by rising prices for barley, wheat and other animal feed.

For information, in 2021, Uzbekistan imported meat products (chicken) worth $188 million (an increase of 84% compared to 2020).

Eggs, butter and milk

Since March last year, the price of eggs has risen by 4.4%, butter by 13.4% and milk by 16.4%. Compared to December 2021, egg prices fell by 3.7%. Prices for butter rose by 4.2% and milk by 4.7%.

In addition, according to the analysis of the Ministry of Economic Development and Poverty Reduction, on March 1-31 this year, kiwis became cheaper by 2,500 soums, mandarins - by 1,500 soums, mung beans - by 1,250 soums, potatoes (imported), beets, radishes - by 500 soums and rice (alanga) - by 250 soums.

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