Ukrainian producers were actively raising selling prices for onions last week, but today they are forced to lower them again, EastFruit project analysts report. The main reason was a sharp drop in sales in the segment. Thus, most wholesale companies reduced their purchases of onions last week, considering the increase in selling prices in the segment to be unreasonable.
To date, onion producers have reduced prices to 23-26 UAH/kg ($0.63-0.71/kg), which is on average 10% cheaper than last week.
Another reason for the downward price trend was the quality of onions. Due to constant interruptions in electricity, the quality of onions started deteriorating rapidly. Most producers decided to reduce selling prices to quickly sell the available volumes of onions and not spend money on their further storage, which is very expensive for Ukrainian farmers this season.
Despite the decrease in selling prices, onions in Ukraine are currently on average 2.6 times more expensive than in the same period last year. Most key market players do not rule out that selling prices in the segment may rise rapidly, especially in the spring. They explain this by rapidly declining onion stocks in Ukrainian farms.
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