A couple of weeks ago, EastFruit wrote about the first batches of new crop carrots available in the wholesale markets of the capital of Uzbekistan. The supply volumes of early carrots from the 2022 harvest in the wholesale markets were small at that time.
However, the supply of early carrots has increased significantly over these weeks, and prices have almost halved. From March 25 to April 8, 2022, the average wholesale prices for carrots of the new harvest decreased from 14 000 to 8 000 UZS/kg (from $1.22 to $0.70), i.e. by 43%. Moreover, as of April 8, 2022, their wholesale prices were 80% lower than on the same date last year.
Meanwhile, wholesale prices for last year’s carrots in Uzbekistan have been growing for the fourth week in a row and have increased by 80% over the past month. From March 11 to April 8, 2022, the average wholesale prices for last year’s carrots increased from 2 500 to 4 500 UZS/kg ($0.23 to $0.40). If we compare current prices with last year’s levels, the average wholesale prices on April 8, 2022 were 1.8 times higher than on the same date in 2021.
According to EastFruit analysts, one of the reasons for the price increase for last year’s carrots is the increase in their prices on the russian market. From March 11 to April 8, 2022, the average wholesale prices for carrots of the last year’s harvest in the russian market increased from $0.25 to $0.68. And the gap between wholesale prices in the russian and Uzbek markets has grown significantly, which in turn stimulates carrot exports to russia.
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