Last week in Ukraine there was a tendency to increase the selling price of beet. It is worth noting that most producers have decided to revisit prices in the direction of an increase, despite the fact that sales of these root crops are stagnating.
Since the beginning of last week, the price of Ukrainian beet has increased by an average of 20%. On Friday, these products were shipped at a price of UAH 10-14/kg (USD 0.24-0.34/kg), depending on quality, lot size and production region. A week ago, the price range in this market segment was UAH 8-12/kg (USD 0.19-0.29/kg), and sales of these products were stable.
The main reason for the increase in prices in this segment is that most farms stopped selling beets in anticipation of improving market prices and a significant part of the harvest was put into storage. Since only surplus produce is sold, the total supply of root crops on the market is decreasing.
It should be noted that Ukrainian prices for beets have doubled on average since the beginning of October last year. However, market participants do not exclude that the upward trend in prices may be temporary. In their view, further price increases may encourage farmers to sell stored beet, increasing supply and thus lowering prices.
Source: Agronews.ua
