Onion prices in Uzbekistan have fallen to historical anti-records

Published 2024년 4월 15일

Tridge summary

In Uzbekistan, wholesale onion prices have plummeted to a historic low of 12 US cents, a consequence of overproduction that has led to a potential waste of 150-200 thousand tons of onions, which may end up as livestock feed. This price drop, the lowest in the country's history and 4.4 times lower than the previous year, mirrors situations in neighboring Kazakhstan and Kyrgyzstan. Despite onions being a traditionally profitable crop and the inelastic demand meaning consumption rates do not heavily fluctuate with price changes, the overproduction was previously predicted by EastFruit analysts. This has resulted in significant financial losses for farmers and traders, alongside a decreased demand for onion seeds for the upcoming planting season.

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

Original content

Weekly monitoring of wholesale prices for onions in Uzbekistan conducted by EastFruit shows that the wholesale price for this product last week dropped to 1,500 soums, which is equivalent to 12 cents of the US dollar. In other words, now in Uzbekistan you can buy more than 830 kg of onions wholesale for $100. As we can see in the graph below, there have never been such low prices for onions during this period of the year in the history of Uzbekistan. A year ago, onion prices were 4.4 times higher than now. The normal price for this period of the year is approximately twice as high and is around 24-26 US cents. However, the problem is much more serious than the graph shows. The fact is that the prices that we show in our monitoring are the prices of small wholesale transactions. If we talk about the price at the level of a farmer or trader who purchased onions in the fall for resale in the spring, then the real price for such onions is currently tending to zero, and it will not be ...

Source: Eastfruit