May 2025 Outlook Report: Vegetables

- Key Indicators: Global freight prices averaged USD 2,045.93 per 40-foot container in Apr-25, marking a 6.87% month-on-month (MoM) drop and a 15.61% year-on-year (YoY) decrease, primarily driven by the United States (US)–China trade tensions. Meanwhile, the World Bank's Fertilizer Index averaged 129.25 points, marking a 0.66% MoM increase, driven by higher prices for diammonium phosphate (DAP) and potassium chloride, which more than offset the decline in urea prices.

- Potato: In Apr-25, French wholesale potato prices decreased by 7.69% MoM to USD 0.36/kg, also down 21.74% YoY, amid rapid planting progress and expectations of acreage expansion, though drought concerns loom. Pakistani potato prices declined, falling 11.11% MoM to USD 0.16/kg, primarily due to logistical disruptions increasing domestic supply. Egyptian potato prices remained stable MoM at USD 0.12/kg but were significantly down 57.14% YoY. The country saw robust Q1-2025 exports, though the recent detection of new viruses in potatoes raises long-term cost concerns for farmers.

- Tomato: Mexican tomato prices surged 62.26% MoM to USD 1.72/kg in Apr-25, as the US announced plans to withdraw from the Tomato Suspension Agreement and impose tariffs on Mexican imports. Moroccan prices also spiked 51.16% MoM to USD 0.42/kg, driven by amplified domestic and foreign demand, alongside a temporary export slowdown during Ramadan, creating a supply gap in Europe. Meanwhile, Spanish tomato prices dropped 19.78% MoM to USD 0.73/kg, influenced by intense price competition from other exporters like Morocco and Türkiye.

- Onion: In Apr-25, Indian wholesale onion prices dropped 22.22% MoM to USD 0.14/kg following increased domestic supply from the Garva harvest and the government's removal of export duties aimed at boosting shipments. Mexican onion prices continued dropping by 17.14% MoM to USD 0.29/kg due to abundant domestic supply despite some erratic behavior in its primary US export market. Similarly, Egyptian onion prices decreased 14.28% MoM to USD 0.12/kg, attributed to stable domestic production yielding well and the resumption of exports, with prices expected to remain steady around these lower levels.