Uzbekistan’s Wholesale Grape Prices Soar by 98.27% YoY in Nov-23 Due to Reduced Grape Harvests

Uzbekistan's wholesale grape prices have risen by 98.27% YoY in Nov-23, reaching record high prices since Sep-23. The upward pricing trend is attributed to low grape harvests and a 30% decrease in fresh table grape exports due to winter climatic disasters.
The wholesale price of fresh grapes in Uzbekistan has increased by 98.27% year-on-year (YoY) from an average price of USD 1.53 per kilogram (kg) in Nov-22, to USD 3.03/kg in Nov-23. In W46, there was a 4.6% week-on-week (WoW) increase, reaching USD 3.18/kg on November 13. From Jul-23 to Nov-23, the average wholesale grape price has consistently exceeded the levels observed in 2022 and is on a steady upward trend. Since Sep-23, Uzbek table grape prices have consistently reached record highs for the 2022/23 season. This unusual pricing trend in Uzbekistan is attributed to a low harvest caused by frosts in Jan-23. The extreme cold weather experienced in Uzbekistan during the second ten days of January resulted in substantial damage to the grape harvest. Uzbekistan's fresh table grape exports are forecasted to decrease significantly by about 30% MoM in Oct-23 and nearly three times less than in 2022. This is a significant decline, considering that in Oct-22, Uzbekistan exported 54.7 thousand tons of fresh table grapes. The notable drop in grape exports is due to a winter climatic disaster causing extensive damage to vineyards, impacting Uzbekistan's primary revenue source from the agricultural industry. Consequently, the shortage in supply has led to higher prices for table grapes in Uzbekistan, with a continuing upward trend. The drop in exports is directly correlated with the increase in grape prices, posing economic challenges for the country's agricultural industry. In 2022, Uzbekistan reached an export value of USD 280.11 million. In 2022, Russia was the top export destination for Uzbek grapes, holding a 70.3% market share. Other important destinations were Kazakhstan with a 17.8% market share, China with a 4.9% market share, Turkiye with 3.5% and United Arab Emirates with 3.4%.