Trading and purchasing activity in the table beet market in Ukraine has been quite stable in March. However, the situation in the segment changed dramatically at the beginning of this week, and the demand fell noticeably, EastFruit project analysts report.
To intensify trade and purchasing, Ukrainian farmers reduce the price of table beets. Today, they are sold on the Ukrainian market at 5-7 UAH/kg ($0.14-0.19/kg), which is on average 14% cheaper than last week. At the same time, project experts talk about an increase in the supply of substandard beets, which producers are ready to ship from 2 UAH/kg ($0.05/kg).
The project experts attribute the downward price trend to an increase in the supply of table beets on the market since farms that previously refrained from sales are now actively selling the available volumes. At the same time, the supply of substandard table beets remains quite large, which also puts pressure on prices for good-quality table beets.
It should be noted that the current price of table beets in Ukraine is on average 1.6 times lower than at the end of March 2022. Some market participants still do not rule out that the downward trend in prices on the beet market will continue, despite the seasonal reduction in the supply. They explain their opinion by rather large stocks of table beets in local storages.
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