The Ukrainian vegetable market has picked up this week with the arrival of beetroot from the new 2024 harvest. Despite this, prices for last year’s stocks of root vegetables remain at record highs, EastFruit reports.
Prices are up 21% year-on-year
Currently, beetroot is selling for 25-33 UAH/kg (equivalent to $0.60-0.80), which is 21% more expensive than in the same period last year. The main reason is high demand with limited supply, especially for good quality roots.
New beetroot crop on sale from June
The new beet season started around the same time as in 2023. Selling prices for the products range from 32-40 UAH/kg ($0.77-0.96), depending on the quality of the batch and the volume of purchases.
Price reductions are possible, but will be limited
Analysts point to a trend towards a gradual decline in prices for the new crop. However, the decline is expected to be limited, as last year’s beet stocks are almost exhausted.
Market reaction: demand is consistently high
Buyers are actively looking for quality products, and farmers are not in a hurry to reduce prices, expecting the price trend to continue in the coming weeks.
