The Russian market is witnessing a rapid rise in prices for high-quality onions, according to analysts of the project APK-Inform: Vegetables and Fruits. The analysts state that the demand by wholesale companies for onions are still quite high, which allows producers to revise the price of their products upward. Also, prices are supported by a reduction in supply on the market due to the fact that many large farms have completed onion sales.
Today, Russian farms in the main production regions offer high-quality onions at 14-20 rubles/kg ($0.19-0.27/kg), which is on average 13% more expensive than at the end of the last working week.
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The rapid rise in prices does not even prevent the presence of significant volumes of cheaper imported onions on the market, the main supplier of which is currently Kazakhstan. Buyers are often dissatisfied with the quality of imported products and prefer expensive and higher quality onions from local farms.
Currently, the price of onions in Russia is already on average 1.5 times higher than in the first week of March 2020. Market participants do not exclude that the trend towards an increase in the price of this product will continue and the growth rate of prices for onions will accelerate as the stocks in farm storage facilities decrease.
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