onion - Onion Prices in Ukraine Up 40% Since Harvest

High Onion Prices in Spain

Mintec Global
Spread the news!

Onions in Spain are sold at very high prices amid lower supply both nationally and globally, which has led to a significant shortage in the markets. Late onion production in Spain has fallen by 45-50% this season compared to previous year, reports Eastfruit.

The areas allotted for this crop have decreased by almost 30% due to poor results achieved in previous seasons.

Since the start of the campaign, demand for onions has been high, and prices have risen to unprecedented levels, said Luis Fernando Rubio, director of Procecam, the Association of Onion Producers of Castile-La Mancha. There are many importers who ask for onions, but almost all onions have already been sold.

There is a significant global deficit. Many countries have imposed export restrictions to protect their local markets, which is very unusual. There were restrictions in South and Central America, in Pakistan, and now in Morocco,” explains Luis Fernando. “We expected to fill in the gaps in onion supplies from New Zealand, but there were significant delays caused by the typhoon, which was heading through the country’s main production area. We are also getting smaller volumes from Peru because of the socio-political problems faced by this country. China exports a lot after covering its domestic demand, but there is still little supply in the markets. This is a complex global scenario for onions.

According to the manager, it may seem like a good year for Spanish onions due to high prices, but “the truth is that the amount of profit is very small when you take into account the available supply and the significant increase in production costs last year”.

Import/Export Statistics

Please click to reach our marketplace