Beetroot Prices – Historical Graph
- The average price in the past 3 days is
- The average price in the past 7 days is
- The average price in the past 30 days is
- The average price in the past 365 days is
Popular questions about beetroot prices:
Beetroot Prices Explained
Beetroot prices remained at elevated levels as the growing trend among consumers who value their health use beetroot powder to add flavor and color to various dishes. The expanding use of beetroot powder in the food, beverage, and cosmetics industry fuels its marketability. As a result, the Food and Beverage category held over 36% of the beetroot market due to the industry’s increased requirement for natural and clean label colorants.
Why are beetroot prices fluctuating?
1. Weather Conditions
Extreme weather events like droughts, floods, or exceptionally high temperatures have a major impact on beetroot production.
These severe weather conditions may result in lower yields, affecting the overall supply and subsequently influencing beetroot prices in the market. For instance, Spain’s beetroot prices increased due to the lack of precipitation which resulted in the decrease of harvest.
2. Supply and Demand
Generally, changes in the total supply and customer demand largely impact beetroot prices. Its costs rise when demand exceeds supply while prices fall when there is an excess of inventory. Spain’s low water levels are due to the consecutive extreme heat temperatures which last longer. This unfavorable weather affected the country’s agriculture and livestock output.
3. Transportation Costs
Changes in fuel prices and transportation expenses impact the final retail prices of beetroot. Normally, increased transportation costs contribute to an overall price increase for consumers.
The price of fuel significantly increased globally as a result of Russia’s war in Ukraine and the Red Sea crisis. Furthermore, the international restrictions and fuel supply quota made things harder for commodity logistics which influenced beetroot prices.
4. Consumer Preference
Shifting consumer preferences and trends such as increased interest in organic or locally grown produce influence the demand for beetroot and subsequently impact its prices.
The rising awareness of healthy eating trends and the popularity of particular diets led to a spike in vegetables and fruits as more people actively seek out these vegetables. Thus, consumer preferences openly affect its buying power which determines beetroot prices.
Which variables impact the price of beetroot?
- Weather Conditions
- Supply and Demand
- Transportation Costs
- Consumer Preference
- Pests and Diseases
- Government Policies
Where does beetroot come from?
Beetroot is closely related to spinach, chard, and quinoa. Additionally, it comes in many names such as red beets, golden beets, spinach beet, chard, beet, garden beet, white beet, and sea beet.
Due to its higher sugar content, it’s a popular vegetable sweetener than other vegetables. Here are some common types of beetroot:
1. Red beets – The familiar red beets, it is characterized by deep red roots and large green leaves tinged with red. Also, its leaves and roots are delectable
2. Yellow beets – From their roots to their leaves, yellow beets have an impressively flavorful taste. Additionally, they do not stain like red beets, giving them a distinct advantage.
3. Albino beets – This variety is characterized by its white color that develops into round and sweet roots.
4. Striped beets – These types display circular and target-like white and pink stripes when they are sliced open. It’s well known that striped beets taste sweeter.
5. Mangel-Wurzel beets – These beets were originally grown only for animal feed. Moreover, they have an unusual appearance, looking like a hybrid of a beet and a carrot. They taste sweet and the color of their flesh ranges from white to golden yellow.
6. Formanova beets – This variety grows into an elongated and cylindrical shape that is similar to a carrot. More importantly, cultivating this type of beet requires deep and undisturbed soil.
7. Baby beets – Young and smaller versions of various beetroot types, known for their tenderness and mild flavor.
8. Chioggia beetroot – Recognized as Candy Cane or Bull’s Eye beets, it displays a unique striped pattern of red and white when sliced.
What are the uses of beetroot?
Beetroot is a vegetable that contains essential components like vitamins, minerals, nitrates, carotenoids, ascorbic acid, flavonoids, polyphenols, saponins, triterpenes, and betalains.
These bioactive compounds contribute to the pharmacological properties of beetroot, offering antibacterial and antioxidant benefits.
Additionally, it is used as a natural food coloring or flavoring in desserts, ice cream, and yogurt. Here are some industrial applications of beetroot:
1. Textile Dyeing – The natural pigments in beetroot can be used as textile dyes in the future. The red and purple tones add quality to color fabrics, although it’s important to note that the stability of the color may be lesser when compared to synthetic dyes.
2. Food Processing – Beetroot juice is often used by the food processing industry to enhance the color and nutritional value of many products.
3. Cosmetics – The natural coloring qualities of beetroot extracts make them useful in the beauty sector. Cosmetic goods like lip balms and lipsticks frequently contain beetroot to provide a brilliant and natural shade.
4. Pharmaceuticals – In the pharmaceutical sector, beetroot extracts are used to make dietary supplements and medications that promote cardiovascular health and overall wellness.
5. Animal Feed – Its pulp and molasses ( byproducts )are used in the production of animal feed. These byproducts are rich in carbohydrates and fiber, making them a great source of additional nutrition for animals.
What is the future price of beetroot?
The growing health concerns contributed to a rise in the use of beetroot powder as a flavoring and enhancer in the culinary sector. Its antioxidants, vitamins, and minerals find their way to the creation of functional foods and ingredients that offer significant health.
The desire for vegetables from well-known food and beverage firms influences global demand and promotes beetroot consumption worldwide as it’s a sustainable food coloring agent in the food processing industry. Furthermore, the soaring sugar prices in the global market prompted manufacturers to leverage the production of natural sweeteners (including beetroot) for profitability.
More importantly, the rising number of customers prioritizing natural ingredients and the utilization of natural therapy in the health and wellness sector drive the commodity’s demand. Overall, the price of beetroot will be $ 0.61 per kilogram in 2027 and its market size is expected to reach $17,118.28 million by 2028 with a CAGR of 5.74%.