Egyptian Onion Prices Dropped in W40 as a Three-Month Export Ban Affects Market Supply and Demand

The Egyptian Council of Ministers' decision to ban onion exports for three months, from October 1, 2023, to December 31, has partially impacted markets, with onion prices dropping to USD 24.44 per kilogram (GBP 20/kg) compared to USD 30.55/kg (GBP 25/kg). The Egyptian market is experiencing self-sufficiency in onions, but high external demand and price movement led to increased quantities exported in 2023, causing prices to reach USD 36.67/kg (GBP 30/kg). The decision to stop exporting will lead to controlling prices and more imports. During W40, onions in the wholesale market recorded USD 18.33/kg (GBP 15/kg), while tomatoes, potatoes, zucchini, carrots, and beans reached USD 12.22/kg to 18.33/kg (GBP 10/kg to 15/kg).