Beets and carrots are rapidly falling in price on the Russian market

The hype in the segment of root crops on the Russian market has ended, and prices in this segment have begun to decline rapidly, analysts of the APK-Inform: Vegetables and Fruits project report. Even at the end of May, prices for these products often reached 100 rubles/kg ($1.23/kg), as there was an acute shortage of both table beets and carrots on the market. Today, a completely different picture is observed on the Russian market, the supply of root crops is growing every day, and prices are falling accordingly.

So, at the moment, Russian producers offer table beet for sale at 14-25 rubles/kg ($0.19-0.33/kg), which is 19% cheaper on average than last week. Meanwhile, the price of carrots fell by an average of 44% over the week, and today this root crop is sold in the range of 18-28 rubles/kg ($0.24-0.37/kg).

The reason for the current situation, key market players call a sharp increase in the area under these crops of early varieties. Therefore, today there is an overabundance of local root crops on the market. Since there was a boom in this segment at the beginning of spring, and prices were growing almost every day, many producers, hoping to make money, either increased the area under carrots and table beets, or even decided to start a new crop for the first time.

IT should be noted that the prices for carrots in the Russian market have already fallen below last year's level by an average of 10%. At the same time, beetroot prices are still 1.7 times higher than in mid-July last year. But at the same time, most manufacturers do not rule out further price reductions in this segment, since the supply today significantly exceeds demand.