September 14 2006, 10:37

Table beet can be cheaper this season

The latest data of table beet acreage and the yield of this commodity confirm that more table beets are likely to be produced this season. The prices will probably be even lower than a year ago.

According to the data of the survey of table beet production, conducted by the Agricultural Marketing Project, more than 85% of farms either retained or extended table beet cultivation areas. And, more than one third of the respondent farmers extended table beet acreage. The yield of table beet is expected to be a little bit higher than a year ago. 40% of the respondent farmers mention the increased yield; only 16% respondents speak about the yield reduction. In conclusion, the experts forecast an average yield growth to reach the level of 5-7%.

The forecasts of gross harvest of table beet are deteriorated by the fact that private producers and city population are gradually giving up the production of "borsch" vegetables (potato, table beet, cabbage, carrot) in the recent years. As a result, the specialists forecast that table beet harvest is going to be 8-12% greater than in 2005. The production level will be one third higher than average harvest recorded in the previous 7 years. As a consequence, the prices for table beet will be equal or even lower the past year level. We'll remind that in season 2005-2006 the prices for table beet during the harvesting season were $0.15-0.27/kg on the wholesale markets. In spring table beet cost $0.39-0.27/kg, in the beginning of summer the price decreased down to $0.19-0.29/kg. As of today, the price for table beet does not exceed the past year prices observed at the same period of time.