As we can see in the graph below, the highest prices for onions are now in EU countries. EastFruit monitors prices only in the Polish market and we can see that onions in Poland are much more expensive than in the non-EU countries of Eastern Europe and in the countries of Central Asia.
If we look at countries outside the EU, then wholesale prices for onions are almost identical in three countries of the European part: In Moldova, Ukraine, and in Georgia and amount to $0.27-0.28 US dollars per kg.
The second group are the countries of Central Asia, where prices are also almost the same and range from $0.16-0.18 US dollars per kg. This includes countries such as Uzbekistan, Tajikistan, and Russia. By the way, in Russia, onion prices are now the lowest of all countries, if you look at the dollar equivalent of the price.
In which countries are onion prices now higher than a year earlier?
If you look at prices in dollars, there are no such countries. If we evaluate prices in local currencies, then in Russia onion prices in rubles are now higher than a year earlier, but in dollars they are significantly lower. The fact is that the Russian ruble is one of the weakest currencies in the world, and its value has fallen by about 40% over the year.
Wholesale prices for onions decreased most significantly in Ukraine and Moldova. Onions have also dropped significantly in price in Georgia and Poland. But in the countries of Central Asia, onion prices decreased the least over the year. However, here too the difference in prices is quite noticeable, despite the fact that the demand for onions has increased sharply and there are a lot of people who want to make money by buying onions at harvest and storing them until winter or spring. Assuming they could make these money, which have doubts about as described in this article.
Where are onion prices falling now and where are the prices growing?
The decline in onion prices is now most clearly visible on the Polish market. Over the past month, wholesale onion prices here have decreased by 10% and the decline in onion prices continues. In Ukraine, onions fell in price even more significantly over the month – by 18%, however, in the last three weeks, prices on the market have stabilized mainly thanks to the start of onion exports to Poland and other EU countries.
The only country where onions have recently become more expensive is Moldova. Prices here increased by 2 cents per kg, becoming equal to prices in Ukraine. Here, too, exports turned out to be the main factor supporting prices. This year there have been reports of onions being supplied from Moldova to EU countries such as Romania and Austria, as well as to the UK.
Read also: Turkey lifted the ban on onion exports?
In other countries, onion prices remained stable, which is quite typical for this period of the year. At this time of the year the onion harvest is being completed or has just been completed in almost all countries of Eastern Europe and Central Asia, therefore, as a rule, the supply of onions on the market is sufficient. The best quality onions are stored, and those that are not intended for long-term storage are gradually sold to wholesalers and supermarket chains, which prevents serious price fluctuations.
As a rule, the first significant variations in onion prices begin after the first frosts. The second moment of traditional price fluctuations is before the Christmas and New Year holidays, and the third is the beginning of an increase in average daily temperatures, forcing those farmers and wholesalers who stored onions in storage without forced cooling and temperature control to start selling onions. Also, in mid to late March farmers of Central Asia start harvesting new onions, which also has an impact on the market.
