The upward trend in the cost of table beets continues on the Ukrainian market, project analysts report Eastfruit. The main reason for the next increase in selling prices in this segment, key market players call the reduction in the supply of table beets in the market. To date, many producers have actually completed the sale of this root crop, and many have suspended sales until April. Also this week, supplies of imported table beets produced in Poland were significantly reduced, which, in turn, supported prices for local root crops.
So, at the moment, Ukrainian farms manage to ship table beets at 10-15 UAH/kg ($0,35-0,53/kg), which is 13% more expensive than a week earlier on average. Several factors allow farmers to raise prices at once. The increase in prices is facilitated by the increased demand for these products: beetroot is actively purchased by both wholesale companies and retail chains. At the same time, the supply on the market has slightly decreased, as a number of farms prefer to refrain from selling in anticipation of further price increases.
To date, table beets in Ukraine already cost an average of 2,5 times more than in the same period last year. However, market participants do not rule out that the upward trend in prices may be a temporary phenomenon. In their opinion, a further rise in prices may motivate farmers to start selling beets from storage, which will lead to an increase in supplies and, as a result, to a decrease in selling prices in this segment.