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Egyptian onion exports to UK almost reach record high

Egypt shipped 19,400 tonnes of onions to the UK in the first nine months of the current MY 2022/23 (August-July). Such a volume has turned out to be almost record high for this period, but the final results of the current export season can be summed up just by the end of July, as reported by EastFruit.

19,400 tonnes of Egyptian onion exports to the UK almost equal the volume exported in the MY 2018/19, when the European market situation was quite similar to the current one. Then, the European onion production was significantly affected by the drought, prices reached their high, and suppliers of non-European countries (Egypt, Turkey, Central Asia etc.) managed to increase their exports sharply.

Nowadays, the current season has been developing under the scenario, which resembles the MY 2018/19. Thus, Egypt has every chance to get close to the previous results, if not to repeat them. However, Egyptian onion exports to the UK usually peak in May-July; therefore, the final results of the current MY will be available closer to the end of summer.

Nevertheless, there are all prerequisites to expect a considerable rise in the Egyptian onion exports to the UK in the current MY. Exports will be supported by the devaluation of the Egyptian pound, which has made local products more price attractive in the foreign markets. Such assumptions are also supported by sharply growing prices of onions in Egypt, which we have covered in a separate material.

The United Kingdom is one of the key global importers of onions, with annual imports varying from 250,000 tonnes to 370,000 tonnes. Last year, the UK imported 370,000 tonnes of onions and became the fifth largest biggest importer of these vegetables in the world, with only the USA, Malaysia, Saudi Arabia and Pakistan importing more.

Nevertheless, the UK market for imported onions is extremely concentrated. There are just four supplying countries that cover up to 90% of the total imports of onions in the UK. The Netherlands is the leader, while Egypt usually ranks third or fourth in the ranking.

EastFruit

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