The Russian market is witnessing a rapid rise in prices for onions, according to analysts of the EastFruit project, which is due to the end of the harvesting season of early onion varieties, as well as a fairly high demand in this segment.
According to the daily monitoring of the project, onions on the Russian market have risen in price by an average of 40% since the beginning of this week. Today, farmers ship them at 14-20 RUB/kg ($ 0.19-0.27/kg), depending on the quality and volume. For comparison: last week the price, as a rule, was no more than 16 RUB/kg ($ 0.22/kg).
According to market participants, the rise in onion prices provokes high demand. At the same time, their offer on the market at the moment is quite limited. Most growers have already finished selling early onion varieties, while peak harvesting of later varieties is planned to start closer to mid-August.
The main problem of the current season is the quality of onions. Due to rainy weather in the first half of summer, farms have a fairly large percentage of substandard products, which farmers try to sell immediately after harvesting.
It is noteworthy that onions in Russia are on average 1.6 times more expensive now than at the beginning of August 2020. At the same time, most market players do not expect a drop in prices in the near future.
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