The supply of domestic early onions is currently much higher than the demand, reports EastFruit. Thus, a seasonal rise in the supply forces Ukrainian farmers to actively reduce their prices for the 2023 harvest of onions.
In particular, EastFruit’s daily monitoring shows that current prices of early onions vary between UAH 28-36/kg ($0,77-0,98/kg) in Ukraine, a decline of 15% compared with the end of the previous week.
Prices fall due to several reasons. Firstly, weather conditions normalized in Ukraine, and most farmers from the southern regions started their harvesting campaign. As a result, the supply grew significantly. Secondly, the demand for onions is still relatively low in the Ukrainian market.
It is also worth noting that current prices of onions in Ukraine are still 77% higher than in late June 2022. Nevertheless, market players believe that prices will continue to go down due to lack of trading activity and rapidly growing supply of new domestic crop, forcing Ukrainian farmers to revise their prices of a daily basis.
