Rising Carrot Prices in Ukraine
Date: 2023-10-21 Author: Dima Zakharov Categories: ECONOMY
The cost of carrots in Ukraine has seen a significant uptick, with prices soaring by an average of 37% in just a matter of days, climbing to 6-10 hryvnias per kilogram ($0.17-$0.28 per kilogram). According to reports, key players in the market have attributed the price hike to a notable increase in trading activity within this segment.
At the same time, most farms have suspended the sale of high-quality carrots in anticipation of even higher price increases, opting to store the bulk of their harvest. They are only offering surplus produce for sale, leading to a slight reduction in the overall supply of this root vegetable.
According to EastFruit, as of October 17, 2023, despite the rapid increase in prices, carrots in Ukraine were on average 52% cheaper than in the same period the previous year.
Market participants do not rule out the possibility that this price hike might be a temporary phenomenon. They believe that further price increases could motivate farmers to release their stored carrots, leading to an increase in supply and, consequently, a reduction in prices.
At the same time, most farms have suspended the sale of high-quality carrots in anticipation of even higher price increases, opting to store the bulk of their harvest. They are only offering surplus produce for sale, leading to a slight reduction in the overall supply of this root vegetable.
According to EastFruit, as of October 17, 2023, despite the rapid increase in prices, carrots in Ukraine were on average 52% cheaper than in the same period the previous year.
Market participants do not rule out the possibility that this price hike might be a temporary phenomenon. They believe that further price increases could motivate farmers to release their stored carrots, leading to an increase in supply and, consequently, a reduction in prices.
