Beets in Ukraine are becoming more expensive again: what awaits consumers
5 February 10:14
This week, the Ukrainian market has seen a trend toward higher prices for table beets, according to analysts from the EastFruit project, as reported by Komersant.
According to market players, the price increase is driven by a noticeable increase in trading activity in the root vegetable segment. At the same time, most farms have suspended sales of high-quality beets in anticipation of even higher prices.
Thus, Ukrainian farms are currently able to ship these vegetables at a price range of 6-11 UAH/kg ($0.14-0.25/kg), which is on average 15% more expensive than a week earlier. Several factors are allowing farmers to raise their selling prices in this segment. First of all, the increase in demand for this product contributes to the price increase: beets are actively purchased by both wholesale companies and retail chains. At the same time, the supply of this product on the market is somewhat limited, as a number of farms prefer to refrain from selling in anticipation of further price increases.
It should be noted that sales of table beets in Ukraine are currently still on average 47% cheaper than in the same period last year. However, market participants do not rule out that the upward price trend may be temporary. In their opinion, further price increases may motivate farmers to start selling beets from storage, which will lead to an increase in supply and, as a result, to a decrease in prices.
