Main points
- Prices for table beets in Ukraine fell by another 19% due to a surplus of products on the market.
- Prices for beets in supermarkets range from 2.50 to 15 hryvnias per kilogram.
Beet prices have fallen / Photo by Pexels
In Ukraine, table beet prices continue to decline due to a surplus of products on the market. Farmers have stepped up sales, which has further increased pressure on price tags.
Table beet prices are falling rapidly
Ukraine has been recording a gradual decline in table beet prices since the beginning of March, and last week only confirmed this trend. This is reported by analysts of the EastFruit project.
To revive trade, producers are forced to lower selling prices. On the eve of the weekend, beets were sold for 3–8 hryvnias per kilogram ($0.07–0.18 USD per kilogram), which is an average of 19% cheaper than a week earlier.
Experts attribute the price decline to an increase in supply. Farms that had previously refrained from selling have begun to actively sell their accumulated stocks.
Additional pressure is created by a significant share of substandard products, which is forcing even high-quality beets to become cheaper. At the same time , compared to the same period last year, prices for this vegetable are already 91% lower on average .
Market participants do not rule out a further decrease in price, despite the seasonal reduction in supply. This is explained by significant stocks of beets in Ukrainian storage facilities. Currently, beet prices in popular supermarket chains, according to the Ministry of Finance, have settled at the following levels:
- Auchan 8.40 hryvnias per kilogram;
- Metro 6.50 hryvnias per kilogram;
- Megamarket 15 hryvnias per kilogram;
- ATB 6.89 hryvnia per kilogram;
- Silpo 2.50 hryvnia per kilogram.
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Potato prices in Ukraine are falling due to weak demand and increasing supply, and farmers are selling off their stocks due to deteriorating product quality.
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Compared to last year, potatoes are 62% cheaper, and in supermarkets prices range from 10.80 to 22.50 hryvnias per kilogram.