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Onion prices are increasing in Russia

Selling prices for onions have started to increase after the New Year holidays in Russia, analysts from the EastFruit project report. Market participants explain the positive price trend by the increased demand for onions from wholesale companies and retail chains. It is also supported by a noticeable reduction in imports, so there were almost no onions from Kazakhstan and Uzbekistan on the Russian market this week.

Today, Russian growers ship quality onions at 12-20 RUB/kg ($0.16-0.26/kg), which is on average 15% more expensive than at the end of the last work week.

Read also: Agrifood forecast for 2022: record price increase, fertilizer shortage, declining yields and labor shortage

Market participants explain the increase in selling prices in this segment by the high demand for high-quality onions from wholesale companies. However, according to wholesale companies, the main problems arise not with the volume, but with the quality of onions. As noted earlier, due to the dry summer, farms managed to harvest a low volume of high-quality onions this season.

It should be noted that today onion prices in Russia are on average 22% higher than in the same period last year. Key market players are sure that the price will continue to rise, since the stocks of high-quality onions in the farms are very limited. Moreover, the majority of farmers intend to further revise prices upwards, provided that the current sales rates are maintained.

EastFruit

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