According to EastFruit analysts, onion prices in Ukraine continue to rise, and the average wholesale price for this product has already reached 14 UAH/kg, which is equivalent to €0.35. Thus, since the start of harvesting late varieties of onions in August, prices for this product on the Ukrainian market have already increased by 40%.
Wholesale prices for onions in Ukraine are now growing faster than last season, when by spring onion prices had updated all historical records. By spring, the wholesale price of onions reached 48 UAH/kg or €1.20, and retail prices were even higher.
According to the weekly price monitoring, onion prices in the 2022/23 season, i.e. before reaching record levels in the spring, increased by only 25% by the end of the first ten days of December compared to prices at the beginning of the harvest. That is, the price growth rate was almost 40% lower than now. However, the price level during the onion harvest in 2022 was also significantly lower than in 2023.
Currently, onion prices are lowest in Central Asia and highest in the EU. In Poland, the price of onions is mostly stable at about €0.38 per kg, which is only 3 Euro cents higher than in Ukraine. In Moldova, prices are rising, but onions there are 10 cents cheaper than in Ukraine. It should be noted that Moldova used to import onions from Ukraine before the Russian invasion of Ukraine.
In general, the level of onion prices can be considered normal for this time of year, if we exclude seasons with a clear surplus and seasons with a clear shortage of products. Therefore, the current onion prices also do not give us any clues as to the future pricing prospects.
If there are no natural disasters, we can assume that the truth is likely to be somewhere in the middle. It is possible that onion prices in the region, except Central Asia, may rise slightly, but the growth is likely to be lower than traders’ expectations.
Source: Landlord
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