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Beetroot prices are increasing again in Ukraine

The upward price trend for beetroots continues in the Ukrainian market, analysts of the EastFruit project report. Key market players consider the reduction in the supply to be the main reason for the new increase in prices. It should be noted that today many growers have actually completed the beetroot sales, and many have suspended sales until April. Also, imports of beetroots produced in Poland have significantly decreased this week, supporting prices for local ones.

Today, Ukrainian farms ship beetroot at 10-15 UAH/kg ($0.35-0.53/kg), which is on average 13% more expensive than a week earlier. Several factors allow farmers to raise prices. First of all, the increased demand contributes to the rise in prices: both wholesale companies and retail chains are actively purchasing beetroot. On the contrary, the supply on the market has somewhat decreased, since farms refrain from sales in anticipation of further price increases.

Noteworthy, current prices for beetroot in Ukraine are on average 2.5 times higher than in the same period last year. However, market participants do not rule out that the upward price trend may be a temporary phenomenon. In their opinion, a further rise in prices may encourage growers to start selling the stored product. This will lead to an increase in supplies and, as a result, to a decrease in  prices in the segment.

EastFruit

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