EastFruit analysts report that Ukraine started importing substantial quantities of the new onion harvest from Uzbekistan and Azerbaijan last week. These nations began their harvest over a month ago, ensuring an ample supply of high-quality onions capable of enduring the lengthy journey to Ukraine.
The influx of onions from Uzbekistan and Azerbaijan has prompted a reduction in the asking price for premium onions as the weekend approached. There are also unconfirmed reports of early-season onions from Macedonia appearing in the Ukrainian market, which warrants further investigation.
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Market insiders note that Ukrainian growers, who have successfully stored onions from the 2023 harvest, attempted to increase their selling prices last week. This strategy was effective until Thursday, but by the weekend, the pricing dynamics shifted, leading to a significant drop in the cost of quality onions.
Specifically, on the EF Trade Platform, a major regional marketplace, the price of onions fell to 20-28 UAH per kilogram (approximately 50-70 US cents), down from 25-30 UAH per kilogram (64-75 US cents) the previous week.
Given the abundance of onions in Uzbekistan and other Central Asian markets, exporting to Ukraine remains economically viable, even with the potential for further price declines in the Ukrainian market. This pattern is expected to continue in the upcoming weeks.
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