This week, the Ukrainian market has seen a trend of rising carrot prices, according to analysts from the EastFruit project. Market players indicate that the price increase is driven by significantly heightened trading activity in this root vegetable segment. At the same time, most farms have paused sales of high-quality carrots, anticipating an even more rapid price surge.
Currently, Ukrainian producers are managing to ship carrots at prices ranging from 27-34 UAH/kg ($0.65-0.82/kg), which is on average 10% higher than in the previous week. Several factors are enabling farmers to raise their selling prices in this segment. Notably, heightened demand for this product is a primary contributor to the price increase, with carrots being actively purchased by both wholesale companies and retail chains. Moreover, the supply of quality root vegetables on the market is somewhat limited as several farms prefer to withhold sales, anticipating further price hikes.
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It should be noted that carrot sales in Ukraine today are already conducted at prices averaging 3.6 times higher than in the same period last year. However, market participants do not rule out that the current price growth trend might be temporary. They suggest that the continued price increase could incentivize farmers to begin tapping into carrot stocks from storage, leading to increased supply and, consequently, price reduction.
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