In Ukraine, onions are again becoming less expensive, resulting in today's prices for this product being lower than last year's levels, according to analysts from EastFruit. Nearly all Ukrainian farms have commenced onion harvesting, leading to a rapid increase in supply. Unfortunately, despite this price decline, demand remains extremely low, and sales have not reflected the reduction.
Currently, Ukrainian farmers are willing to sell onions for 7-13 UAH per kilogram ($0.12-0.22/kg), which is on average 17% cheaper than at the end of the previous working week.
Market experts attribute the downward price trend primarily to the abundant onion supply in the market, while demand remains subdued. Most farms have actively sold their existing stocks of lower-quality onions. Some farmers report that adverse weather conditions this season have resulted in a scarcity of high-quality onions suitable for storage. Consequently, the percentage of losses and the share of subpar products have noticeably increased, prompting producers to prioritize their sale.
It's important to note that current onion prices in Ukraine are already 12% lower on average than in mid-August 2023. However, some market participants anticipate a change in the situation come September. By that time, onion stocks in farms are expected to significantly decrease, leading to a rise in prices for this product.
Source: east-fruit.com