Carrot Price Trend and Forecast

Carrot Regional Price Overview

Get the latest insights on price movement and trend analysis of Carrot in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

 

Carrot Price Trend for the First Half of 2024

Carrot prices in the first half of 2024 were significantly influenced by various regional challenges, mainly adverse weather conditions and supply disruptions. In France, production for the fresh market initially benefited from favorable weather, but subsequent storms and heavy rainfall in November led to logistical problems and reduced yields, keeping prices elevated above last year’s levels. In Brazil, heavy rains in key carrot-producing areas early in the year caused significant damage to crops, reducing the volume available in major supply centres and resulting in sharp price increases.
 

Carrot Price Chart

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The supply to local markets dropped notably, with key regions like Minas Gerais and Goiás experiencing substantial shipment reductions. Similarly, in India, adverse weather conditions, coupled with decreased supply and rising transportation costs, led to a notable price hike for carrots in both wholesale and retail markets. This situation was exacerbated by increased wastage due to the poor quality of arriving produce, pushing prices higher. Overall, carrot prices in the first half of 2024 remained under pressure globally due to supply constraints and fluctuating demand dynamics, with weather-related disruptions playing a significant role in market volatility.

Analyst Insight

According to Procurement Resource, the current supply and demand equation suggests similar market behavior of Carrots in the coming months as well.
 

Carrot Price Trend for the Second Half of 2023

Carrot prices, along with other vegetables, observed a rising price trajectory throughout the period under discussion. At the beginning of the third quarter in July, an erratic monsoon delayed the planting and sowing process for vegetables. In the beginning, around a 12% month-on-month increase was seen in the Indian vegetable market.

Though the final quarter saw some decline in prices with the new harvests coming in the supply chains, the wedding season in India, along with long festivals and New Year holidays, prompted the demands from the food industry. So, there was some tugging witnessed in the carrot markets.

With increased supply, the prices started to come down for carrots in the early months of Q4. Albeit, the offtakes were very supportive of the downstream attributes. Thus, a positive performance with healthy market dynamics was seen in the later months of Q4.

Analyst Insight

According to Procurement Resource, with the ongoing unseasonal weather disruptions, the crop yield is set to be affected; thus, the Carrot price trends are expected to rise further.
 

Carrot Price trend for the First Half of 2023

In the first and second quarters, it was seen that the rates of exports from Israel spiked up as the European markets witnessed high demand. According to Israeli farmers, there were a number of factors that impacted the European market that drove up the demand.

Climate change, increasing costs of energy, and the ongoing Russia-Ukraine war all contributed to the northward trajectory of the price trends of carrots. Along with this, the temperature due to the effects of global warming, the number of wet days, the yield, and the quality also influenced the carrots market heavily.

While other commodities are becoming more price-attractive, such as wheat, the higher cost of growing in Israel and Europe is not adequately offset by the markets, demotivating growers to switch and not grow other vegetable categories. Not only in the European countries, the demand for Israeli produce was also high in the UK region. The rates of imports in the UK also rose significantly, contributing to an incline of almost 20% in the prices of carrots during the first two quarters of 2023.

Analyst Insight

According to Procurement Resource, the price of Carrots is expected to showcase a positive trend as the market activities of carrots will likely be driven by high demand and limited supply.

Procurement Resource provides latest prices of Carrot. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.