Egypt faces onion overproduction, low demand, and low prices

Published 2024년 8월 30일

Tridge summary

The Egyptian onion season has commenced after a three-month export ban due to low stocks, which resulted in market price increases. This year, the country has seen overproduction with a estimated crop volume of over 3 million tons, which is 1 million tons more than the previous season. However, there is currently low demand for Egyptian onions, leading to dropped prices and unsold volumes.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The Egyptian onion season began in April after a three-month ban on exports. Onion stocks in Egypt last season were insufficient, leading to unprecedented price increases on the local market and prompting the government to intervene and ban exports, EastFruit reminds us. According to Mohamad Hassan, Al Gamal’s export manager, there is an overproduction this year. Many vegetable growers grew onions this year due to shortages and high prices last season, FreshPlaza explains. The country’s production volume is estimated at more than 3 million tons, 1 million tons more than last season. Read also: Egypt tops EU sweet potato supplier list for the first time, ahead of the US To make matters worse, this year’s surplus volumes are accompanied by low demand. “There is virtually no demand for Egyptian onions,” says Mohamad. “As a result, we ended up with a large volume of onions on our hands. If we take Saudi Arabia as an example, it is a proven market that buys large volumes of onions ...

Source: Eastfruit