Over the past two weeks, the average wholesale prices for onion in Uzbekistan have increased by 25% and reached their peak for the period from the beginning of May to the current date of 2021, EastFruit experts say.
According to EastFruit price monitoring data, the average wholesale prices for onions increased from 1,600 to 2,000 UZS/kg (from $0.15 to $0.19), i.e. by 25%, from November 12 to November 26, 2021. The sharpest price rise has been observed over the past week, from November 19 to November 26, 2021, when the average wholesale prices increased from 1,700 to 2,000 UZS/kg (from $0.16 to $0.19), i.e. by 18%.
The current levels of average wholesale prices for onion in Uzbekistan are 33% higher than on the same date in 2020 and 82% more than on the same date in 2019.
EastFruit analysts draw attention to the fact that the influence of foreign markets in such price increases during November 2021 was negligible. According to the Customs Committee of the republic, the volume of onion exports from Uzbekistan from November 1 to November 25, 2021 amounted to only 360 tonnes – which is a very small volume for onions. In the same period in 2020 5.5 thousand tonnes were exported.
Thus, the rise in onion prices in Uzbekistan over the past two weeks is associated with the situation on the domestic market. It means that such dynamics is formed by the ratio of supply and demand in this market.
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