Prices have resumed this week on the onion market in Ukraine, EastFruit project analysts report. Key market players say this is due to the seasonal depletion of stocks in local farms and the increased purchasing activity of wholesale companies.
According to the project’s daily monitoring data, today Ukrainian farmers ship onions no cheaper than 38-45 UAH/kg ($1.04-1.23/kg), which is on average 10% more expensive than at the end of the last week.
Despite another rise in prices, the demand for onions is growing daily in the face of an acute shortage of local onions. Onion stocks in the storage facilities of Ukrainian farmers are the lowest compared to the last two seasons. Most of the farms have already sold all the available volumes, and those who have stocks have now stopped selling, thereby inflating the market and, accordingly, rising prices.
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It should be noted that to date, onions in Ukraine are already on average 3.7 times more expensive than in the same period last year. According to market participants, positive price trends in the onion market will continue until the mass arrival of new crop onions.
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