Since the beginning of the current week, new negative price trends have been observed in the Ukrainian market for table beets, according to analysts of the EastFruit project. The main reason for the price reduction has been an increase in the supply of root crops. Many local producers considered it impractical to continue storing their available volumes and began selling beets from storage in large quantities, which immediately affected wholesale prices in this segment.
As of today, Ukrainian farmers are ready to ship table beets at 5–10 UAH/kg ($0.12–0.23/kg), depending on quality and batch size, which is on average 12% cheaper than a week earlier. According to key market players, the negative pressure on prices in this segment is caused by the growing supply of table beets from local farms. Due to power outages, the quality of products stored by small farms is rapidly deteriorating, forcing farmers to sell off their remaining stocks of root crops. At the same time, market players note that large farms are sufficiently equipped with generators and do not face storage issues. Therefore, they prefer to suspend beet sales, given the rather large supply on the market.
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It is worth adding that as of today, table beets in Ukraine are on average 59% cheaper compared to the same period last year. At the same time, market analysts do not rule out that the situation in this segment may change drastically soon. The beet harvest this season was rather modest, and the stocks of high-quality products in farms are also quite limited.
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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