Increased trade is stimulating a rise in prices for high-quality beetroot in Russia, analysts at the EastFruit project report. The experts say that the reason for the increase in demand for beetroot is the intensification of purchasing by large wholesale companies and retail chains.
Russian growers manage to ship beetroot at 19-30 RUB/kg ($0.26-0.41/kg) now, which is on average 11% more expensive than a week earlier.
Several factors allow growers to raise prices. First of all, the increased demand for beetroot contributes to the rise in prices: both wholesale companies and retail chains actively purchase them. At the same time, the supply on the market is somewhat limited, since a number of growers prefer to refrain from selling waiting for further price increases.
Thus, the prices for beetroots in the Russian Federation are on average 80% higher today than in the same period last year. However, market participants do not exclude that the upward trend in prices may be a temporary phenomenon. In their opinion, a further rise may encourage growers to start selling beetroots from storage, which will lead to an increase in supplies and, as a result, to a decrease in prices.
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