Table beet prices are raised by Ukrainian farmers due to the increase in sales of this product. The price increase is also caused by the small supply of table beets on the market, as producers prefer to store the entire crop instead of selling the tables beets.
Since the beginning of the week, the price of table beets has increased in Ukraine by 16%, and today producers are ready to ship this root crop for 5-7 UAH / kg, depending on quality, region, and other factors.
A noticeable rise in trade activity in the beetroot segment is credited with the rise in prices, according to market players. In anticipation of even greater price rises, the majority of farmers also halted the sale of this high-quality root crop and put the bulk of their harvest into storage. In this case, the market can only offer a limited supply, since the farmers are only selling surplus.
There is already a 1.7-fold increase in table beet prices in Ukraine as of today compared to the beginning of October of last year. Nevertheless, market participants are not excluding the possibility that the upward trend in prices is temporary. Further price rises may lead farmers to start selling stored beets, which would increase the supply of those products, leading to a decline in price.
