According to information from EastFruit analysts that has not yet been officially confirmed, Turkey, which a year ago introduced a ban on onion and potato exports, unexpectedly lifted it for onions. We have not yet been able to find confirmation from official sources, however, several market participants did confirm that onion exports from Turkey are now possible.
According to information from EastFruit analysts that has not yet been officially confirmed, Turkey, which a year ago introduced a ban on onion and potato exports, unexpectedly lifted it for onions. We have not yet been able to find confirmation from official sources, however, several market participants did confirm that onion exports from Turkey are now possible.
If the information is confirmed, it may have a negative impact on pricing in the onion market. It is possible that the Turkish authorities decided to take advantage of the situation with the ban on onion exports from Egypt. Currently, the price level for onions in the Middle East is quite high, because India has limited exports of onions, and Egypt has completely banned it. Alternative suppliers are located further away, and the cost of logistics from these countries is quite high.
Another reason that could have led to the decision to lift the export ban is the relatively low level of domestic wholesale prices for quality onions. Presently export-quality onions in Turkey can be bought in bulk at prices starting from $0.25 US dollars per kg, which approximately corresponds to onion prices in Ukraine, Moldova, and Georgia.
Read also: Onion market participants are expecting steep price increase
Turkey, according to EastFruit, is one of the world leaders in onion exports, supplying from 220 to 280 thousand tons of fresh onions per year to the foreign markets. The main importers of the Turkish onions are: Iraq, UAE, Russia, Bangladesh, Syria, Libya and Georgia. Thanks to low-cost sea logistics and relatively inexpensive land transit, Turkey also supplies onions to the EU Black Sea countries: Romania and Bulgaria. From time to time, Ukraine also imports onions from Turkey.
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