Ukrainian farmers raise prices for beetroot

A noticeable increase in the rate of sales of table beets allows Ukrainian farmers to raise prices for these products, according to analysts of the EastFruit project. In addition to the increase in demand, the price increase is also facilitated by the reduced supply of beets in the market, as many farmers refuse to sell table beets and prefer to store the entire crop in storage.

According to the daily monitoring of the project, since the beginning of the week alone, table beets in Ukraine have risen in price by an average of 16%, and today producers are ready to ship this root crop at 5-7 UAH / kg ($ 0.19-0.27 / kg), depending on the quality , region and other terms of the transaction.

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According to market players, the rise in prices is facilitated by a noticeable increase in trading activity in the segment of beetroot. At the same time, the majority of farms suspended the sale of this high quality root crop in anticipation of an even greater rise in prices and laid the bulk of the crop for storage. They only offer surplus for sale, as a result of which the supply on the market is somewhat limited.

At the moment, prices for table beets in Ukraine are already 1.7 times higher on average than at the beginning of October last year. However, at the same time, market participants do not exclude 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 prices for these products.