This week several Ukrainian farmers have begun to sell off their available stocks of onions en masse, according to analysts from the EastFruit project. Experts from the project note that the rapid deterioration in the quality of this product in local storage facilities prompted these actions. A substantial increase in available volumes on the market has led to a rather sharp decline in prices for this vegetable.
Just since the beginning of this week, onion prices in Ukraine have decreased on average by 12%. Today, Ukrainian farmers are selling this product at 7-13 UAH/kg ($0.17-0.31/kg), depending on the quality and volume of the batches offered.
Producers also attribute the price decline to the sharp deterioration in the quality of this product. Many had stored damp onions, which began to sprout rapidly due to the warm winter conditions. Even reducing prices to stimulate the sale of substandard products is not yielding the desired results. Wholesale prices for medium and low-quality onions are already quoted in the range of 4-6 UAH/kg, but buyer activity in this segment remains very low.
Read also: Increase in carrot prices on the Ukrainian market
It should be added that, as of now, onion prices in Ukraine are already on average 12% lower than at the end of February 2024. Moreover, by the end of the current week, market prices in this segment could reach their lowest levels in at least the past four years! It is also worth noting that major market players have adopted a wait-and-see approach under these conditions, attempting to withhold higher-quality products for sale in the spring months of this year.
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