Prices for onions have started to decrease in Russia this week, analysts of the EastFruit project report. According to key market players, only surpluses, or onions of low quality unsuitable for long-term storage are on sale now. At the same time, farmers note that in the current season the percentage of substandard products in the harvest has grown significantly. This is due to unfavorable weather, in particular, heavy rains in September. As a result, there were bacterial diseases on a number of farms due to high humidity.
Today growers sell onions at 8-16 RUB/kg ($0.10-0.18/kg), which is on average 15% cheaper than at the end of the last work week. Onion growers report a noticeable weakening in the demand, while the supply on the market continues to increase. The increasing supply is due to the desire of growers to get rid of substandard onions not suitable for storage. The demand for such onions remains relatively low; they are mainly purchased by chains and resellers for current sales, since they cannot be stored long.
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Today, onions in Russia are already on average 11% cheaper than in the same period last year. Nevertheless, key market players do not exclude a further decline in prices, since a number of growers have already reported that onions in storage have begun to deteriorate, and intend to start selling them in the beginning of November.
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