Increasing Shallot Supply in Indonesia’s Retail Market Led to a Price Decline in W28

The Indonesian retail market has seen an increase in the supply of shallots, resulting in downward pressure on prices. In W28, the price increase of shallots was restrained and started to decline by approximately 10% compared to early Jul-23. The price for shallots in W28 dropped to USD 2.33-2.80/kg (IDR 35K-42K/kg). This rise in supply aligns with the start of the harvest in Central Java, the primary region for shallot production. The harvest season of shallots in Indonesia should extend until Aug-23.