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Uzbekistan reveals weighted average export prices for fruits, vegetables (Exclusive)

Business Materials 21 November 2018 17:34

Baku, Azerbaijan, Nov. 21

By Fikret Dolukhanov – Trend:

The weighted average export prices for fruits and vegetables has significantly increased in Uzbekistan over the past month, the Foreign Trade Ministry of Uzbekistan told Trend.

According to the information, on Oct. 27 – Nov. 17, the average export price for Uzbek tomatoes increased by almost 29 percent – from $360 per ton to $464 per ton. The price of onions has grown even more – by 36 percent from $110 per ton to $150 per ton.

Prices for fresh cucumbers rose slightly from $390 per ton to $405 per ton (3.8 percent), and for garlic – from $620 per ton to $645 per ton (4 percent).

From the main export positions, there is a noticeable increase in prices for greens, which have risen in price by as much as 72 percent – from $450 per ton to $775 per ton.

“It should be noted that the weighted average prices for fruits and vegetables are only advisory and indicative in nature. The ministry will systematically examine the prices for fruit and vegetable products in foreign and domestic markets by visiting the regions,” the Department of Analysis and Forecasting of World Market Development of the Foreign Trade Ministry of Uzbekistan noted.

The weighted average export prices are based on information about wholesale prices in foreign and domestic markets, as well as on transportation costs associated with the transportation of products from the shipping point to the destination.

Wholesale market export prices for fruits and vegetables (on FCA terms, i.e. indicating the place) are calculated using the net-back method minus transportation and other related costs from the cost of production in foreign markets.

The total recommended export price is formed by determining the average level of the estimated price (on FCA terms) and the wholesale price of products in the domestic market.

In January-October 2018, exports of fruits and vegetables from Uzbekistan exceeded one million tons and reached $732.5 million, which is 43.3 percent more than the same period last year.

The main foreign trade partners of Uzbekistan in the supply of agricultural products were Kazakhstan (502,100 tons worth $343.1 million, 46.8 percent of the total), Russia (200,500 worth $139.3 million, 19 percent) and Kyrgyzstan (76,800 worth $69 million, 9.4 percent).

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