This week, Ukraine has seen a trend of increasing wholesale prices for table beets, according to analysts from the EastFruit project. It is worth noting that despite relatively low sales rates for these root crops, most producers have decided to revise prices upwards.
Since the beginning of the current week, the price of beets in Ukraine has risen by an average of 20%. Today, shipments are made at 10–14 UAH/kg ($0.24-0.34/kg) depending on quality, batch size, and production region. Just a week ago, the price range in this market segment was 8–12 UAH/kg ($0.19-0.29/kg), and the product was being sold steadily.
The main factor driving the price increase is that most farms are suspending beet sales in anticipation of better market prices, storing the bulk of their harvest. They are offering only excess for sale, resulting in a reduced overall supply in the market.
Read also: Another increase in potato prices in Ukraine
Currently, beet prices in Ukraine are on average twice as high as in early October of the previous year. However, market participants do not rule out that the rising price trend could be temporary. They believe that further price increases might incentivize farmers to start selling stored beets, leading to higher supply and, consequently, a decrease in prices.
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