In Russia, the table beet market is experiencing an increase in trade and procurement activities, project analysts report Eastfruit. Increased selling prices in this segment allow farmers to increase the demand for these products: beets are actively purchased by both wholesale companies and retail chains. At the same time, supply on the market is limited, as a number of farms prefer to refrain from selling in anticipation of further price increases.
According to the project's daily monitoring data, the price of beets in Russian farms rose by an average of 10% over the week. The cost of this product today varies between 22-32 rubles/kg ($0,29-0,42/kg).
At the same time, a number of producers, who are currently holding back sales of table beets, expect the scenario of last year to develop, when the price for these root crops reached 100 rubles/kg ($1,30/kg).
Key market players have an opposite point of view, they believe that this situation is unlikely to happen again this season, since another rise in prices in this segment may lead to an increase in the supply of imported beets.
Compared to last year, today beets in Russia are already on sale at an average of 1,8 times more expensive than at the beginning of February 2021. Most farmers plan to continue to raise prices in this segment, referring to the reduction in stocks of table beets in storage.