According to analysts of the EastFruit project, an upward price trend for table beets has been observed on the Ukrainian market this week. Local producers report a reduction in stocks of root vegetables of proper quality, while demand from wholesale companies and retail chains for this product continues to grow.
As a result, producers are currently able to sell table beets in the range of UAH 5–10/kg ($0.12–0.23/kg), which is on average 19% higher than at the end of the previous working week.
Market participants explain the price increase in this segment by a noticeable decline in supply. At present, sales of root vegetables from non-equipped storage facilities have almost been completed, and the availability of substandard vegetables has also significantly decreased. This, in turn, has allowed producers to raise prices for high-quality produce.
At the same time, it should be noted that current beet prices in Ukraine remain, on average, 49% lower than in the same period last year. However, market participants do not rule out that the current upward price trend may be temporary. In their view, further price growth could encourage farmers to start actively selling root vegetables from storage, which would lead to an increase in supply and, consequently, to a decline in prices in this segment.
More detailed information on the development of the table beet market and other fruit and vegetable products in Ukraine is available on the EastFruit website.
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