Outlook Improving For Ukrproduct But Consumer Recovery Set To Lose Steam

The past few years have been immensely challenging for most of Ukraine's consumer companies after what can be described as a catastrophic 2009. A 50% devaluation in the value of the hryvnia versus the US dollar sent take home pay plummeting and spurred a collapse in the domestic economy as real GDP contracted by some 15.1% in 2009, with private consumption expenditure leading the way in falling 14.1% in real terms. Companies like Ukrproduct, which is primarily focused on dairy inside the Butter, Cheese and Milk segments, were hit really hard as Ukrainians started spending their money a lot more

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