Beetroot prices are creeping up.
This week, Ukraine has seen an increase in wholesale prices for beets. Despite the relatively low sales rates of this vegetable, most producers have decided to revise their prices.
This was reported by analysts from the EastFruit project.
Experts noted that since the beginning of this week alone, beets have risen in price by an average of 20%.
Thus, as of October 4, beets were sold at 10-14 UAH/kg ($0.24-0.34/kg) depending on the quality, batch size and region of production.
A week earlier, the price range in this market segment was 8-12 UAH/kg ($0.19-0.29/kg), and sales of this product were stable.
Analysts explained that the main factor in the price increase in this segment was that most farms are suspending the sale of beets in anticipation of an improvement in the price situation on the market and sending the bulk of the harvest for storage.
“They only offer surplus for sale, as a result of which the overall supply of root crops on the market has begun to decline,” the report says.
It is worth noting that beet prices in Ukraine are already on average twice as high as at the beginning of October 2023. But market participants do not rule out that the upward price trend may be temporary. They added that further price increases may motivate farmers to start selling beets from storage facilities, which will lead to increased supplies and, as a result, lower prices.
It was previously reported that in Ukraine, the growth of prices for food products may accelerate in September-October. In particular, vegetables and dairy products may become more expensive.