According to EastFruit analysts, the outbreak of a civil war in Russia with the capture by rebels and former prisoners of at least one large city and several important military facilities in the regions, led to a collapse in fruit prices in many countries of the region.
“The sharp devaluation of the Russian ruble and the blocking of roads made it impossible to supply seasonal fruits from many countries, which export their fruits mostly to Russia. As a result, today there was a sharp collapse in prices for peaches and nectarines in Georgia, Armenia, Azerbaijan, Iran and Turkey. Literally in one day, the prices for these fruits have almost halved – from $0.80 to $0.45 per kg, and the downward trend in prices continues,” says Fedir Rybalko, FAO International Consultant.
It is expected that in the near future wholesale prices for fruits and vegetables will also begin to decline sharply in the countries of Central Asia: in Uzbekistan, Kazakhstan and Tajikistan. However, of course, much will depend on developments of the civil war in Russia. Since now is the peak of the stone fruit season, this news is a serious blow to farmers in all countries of the region, because they have no real alternatives to the Russian market.
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Also, a rapid increase in domestic fruit prices has already been noted on the Russian market itself, since in order to pay for imported fruits, importers need to purchase foreign currency at the new rate, and the fruits themselves are no longer enough to meet demand, because logistics are broken. As the ruble continues to fall, importers are forced to price the worst-case scenario.
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