For the first time in a month and a half, prices for potatoes decreased in Uzbekistan. Over the past week, average wholesale prices for this product fell by 10%.
As East Fruit reports, from the beginning of January to the end of September 2021, the dynamics of the average wholesale prices for potatoes of the current year harvest was generally similar to the previous year, and prices were approximately at the same level as in 2020. However, due to the agiotage situation in the potato market in Russia, the tuber crops began to rise in price in Uzbekistan in terms of the domino effect at the end of September 2021.
Three weeks later, in just one week – from October 14 to October 21, 2021, the average wholesale prices for this product increased from 3,500 to 5,000 soums/kg, that is, by 43%. In the next two weeks, average wholesale prices for potatoes remained at the same level.
At the same time, as a factor restraining further growth in prices for potatoes, on October 21, 2021, the upper house of the Parliament of Uzbekistan approved a law on amendments to the Tax Code, providing for the zeroing of value added tax (VAT) on the import and sale of a number of products, including on potatoes. According to this document, from October 10 to December 31, 2021, imports and sales of the above goods are exempt from VAT.
From November 4 to November 11, 2021, the average wholesale prices for potatoes in Uzbekistan decreased from 5,000 to 4,500 soums/kg. However, current prices are 36% higher than the same date in 2020 and 2.1 times higher than the same date in 2019.