Carrot Prices Increase Drastically in Cherkasy Oblast
According to information provided by Sergiy Strokan, Market Information Specialist from the Cherkasy Agricultural Marketing Project (AMP) office, retail prices on quality carrots have grown by 2 - 2.5 times since the third week in January. As of today, the retail price on quality carrots reached $0.78-0.98/kg and the wholesale price is between $0.58-0.62/kg according to AMP price monitoring data.
The primary reason for the price increase is the decrease in carrot production from the 2005 harvest in Cherkasy oblast. AMP estimates the production rate in 2005 was 6% lower compared to the previous year. At the same time, demand from processing enterprises, retailers and wholesale traders grew dramatically. Presently, hardly any carrots remain in local producers' storage and a significant part of the produce is being supplied from other regions.
Some insiders think there is a chance to again see record high carrot prices like those recorded in late spring and early summer of 2005 when wholesale carrot prices reached $1.37/kg.