Analysts Eastfruit repeatedly explained the reasons for the record high prices for potatoes, carrots, beets and cabbage that were established in Uzbekistan in the 2021/22 season. To a large extent, the rise in prices is due to a sharp decline in local production and an increase in demand for these products in Russia.
If in January the prices for most positions in Uzbekistan managed to stabilize, then in February the price growth resumed again. Over the past week, prices for potatoes, cabbage, carrots and beets have simultaneously risen in Uzbekistan. Only onion prices remained stable.
The rise in price was quite drastic. Wholesale prices for potatoes in Uzbekistan increased by 20% over the week, and prices for carrots - by a third at once.
How much did the prices of borscht vegetables and potatoes rise in Uzbekistan over the year? Let's compare the current price level with the one that was noted at the beginning of February 2021 in the wholesale markets of Uzbekistan.
Cabbage prices rose the most during the year. If the usual price for cabbage in January-February in Uzbekistan ranges from $0,10-0,20 US dollars per kg, then at the moment wholesale prices on the local market are on average three times higher. Retail cabbage in Uzbekistan is sold at 7,5-8,0 thousand soums per kg (more than $0,7 per kg). In Russia, prices for cabbage have also risen to 65-75 US cents per kg.
The second place in terms of annual price growth in Uzbekistan is occupied by carrots. As far back as autumn, analysts noted that prices for carrots in Uzbekistan were even higher than in Russia, and that Uzbekistan had to import carrots for the first time.
At the moment, carrots in Uzbekistan are sold at a record high price for this period of the year - 4 soums per kg in bulk, and retail prices start at 5 soums for red varieties of carrots. Wholesale prices for carrots are on average 2,7 times higher than at the same time last year and almost 5 times higher than in 2020.
For some time, prices for carrots in Uzbekistan fell below the level of prices in Russia, but now they are again higher than in the Russian market. However, there is currently no trade in carrots between these countries. Prices for carrots are even higher in Belarus, but it makes no economic sense to supply carrots from Uzbekistan there, because the price level is very close.
Potatoes in Uzbekistan are sold not only at an incredible price for this time of year, but at a record price in the entire history of monitoring. The main question is whether it will continue to rise in price, and if so, to what level?
In the meantime, wholesale companies in Uzbekistan are paying 58% more for potatoes than a year earlier, and almost three times more than at the beginning of February 2020.
At the moment, potatoes in Uzbekistan are more expensive than in neighboring countries. Even in Russia, where there is a serious shortage of potatoes this season, tubers are sold in bulk for a third cheaper. And in Ukraine, potatoes can be bought 3,5 times cheaper.
Onions in Uzbekistan have risen in price by a third over the year and are also being sold now more expensive than ever before at this time of the year. Now it is the cheapest product of the vegetable group and is sold at half the price of carrots.
In Russia, wholesale prices for onions have grown very slightly and are almost at the same level as in Uzbekistan.
The highest prices for onions are in the markets of Ukraine and Belarus, however, the “gap” is not large enough to create opportunities for successful export of products, given the significant cost of transportation at this time of the year.