Russian onion growers have started to actively raise the prices, analysts at the EastFruit project report. According to market participants, the rise in prices in this segment, primarily, stimulates the limited onion supply on the market in conditions of an increased demand. It should be noted that in some cases growers refuse to sell onions, hoping for further price growth.
Today, farms offer high-quality onions at 12-20 RUB/kg ($0.17-0.28/kg), which is on average 37% more expensive than a week earlier. According to growers, they manage to raise prices in this segment due to a noticeable increase in demand. At the same time, the supply of high-quality onions on the market is rather limited, since many farms have already completed their sale from the field, and large market players still restrain the sale of high-quality onions from storage.
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Thus, current onion prices in the Russian Federation already exceed last year’s prices for the same period by an average of 18%. At the same time, key market players note that this is somewhat artificial and is associated with the fact that many farms refuse to sell onions at current prices, thereby creating an even larger shortage on the market.
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