The Uzbek team at EastFruit has reported declines in carrot prices in Uzbekistan over the past few weeks, but current levels still remain at a record high for this time of year compared to previous years.
On June 17, 2021, EastFruit already wrote about the abnormally high levels and unusual behavior of prices for carrots at this time of the year in the article “Even the Uzbek pilaf is becoming more expensive due to high prices for carrots and beets in Russia”. It showed how the dynamics of carrot prices in Uzbekistan repeats that on the main export market for Uzbek fruit and vegetables – in Russia, as well as in neighboring Tajikistan. In other words, the reasons lie in the roaring demand on carrots and beets and the rapid rise in their prices on the Russian market. The conclusion was obvious – since Russia is the largest and main export market for fruit and vegetable products in Uzbekistan, the increase in prices for products in Russia is invariably reflected in the increase in prices for these goods in Uzbekistan.
Starting from the end of June – the beginning of July, carrot prices in Russia began to decline, as the 2021 harvest became available on the market, and to this day the supply of carrots on the Russian market from local growers is increasing. EastFruit has already written that Russian growers plan to start delivering batches of this year’s harvest no earlier than July. Following prices in Russia, prices in Uzbekistan also began to decline.
However, the rate of decline was different. From June 24 to July 15, the average wholesale prices in Russia fell by (51%), in Tajikistan – by 42% and in Uzbekistan – 22%. The slower rate of decline in prices in Uzbekistan is explained by the situation on the domestic market. The further changes of prices for carrots in Uzbekistan is no longer influenced by the situation on the Russian market, and, as of July 15, 2021, the average wholesale prices in Russia are even lower than in Uzbekistan. Further dynamics of prices for carrots in Uzbekistan will depend on the ratio of supply and demand in the domestic market.
Despite the downward trend, the current average prices for carrots in Uzbekistan remain at record high levels – about 3 times higher than on the same date in 2019 and 2020.
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