April 2025 Outlook Report: Vegetables

- Key Indicators: Global freight prices averaged USD 2,196.90 per 40-foot container in Mar-25, marking a 29.79% month-on-month (MoM) drop and a 24.7% year-on-year (YoY) decrease. The drop was mainly driven by the seasonal demand slump following Lunar New Year (LNY) 2025 and the end of frontloading activities. Meanwhile, the World Bank's Fertilizer Index averaged 128.40 points in Mar-25, marking a 3.80% MoM decrease, driven by falling urea prices, which offset increases in diammonium phosphate (DAP) and potassium chloride.

- Potato: In Mar-25, French wholesale potato prices averaged USD 0.39 per kilogram (+2.63% MoM). However, prices remained subdued YoY due oversupply and weak exports. Meanwhile, both Pakistan and Egypt experienced a 5.55% MoM price decrease to USD 0.17/kg; Pakistan's decline stemmed from ample supply and subdued demand, whereas Egypt contended with oversupply and weak domestic demand despite robust export growth.

- Tomato: Mexican tomato prices rose 13.97% MoM to USD 1.06/kg in Mar-25 due to tight supplies during seasonal transitions and water restrictions. Moroccan prices surged 58.14% MoM to USD 0.43/kg, driven by Ramadan demand and supply constraints, though exports remained strong. Spanish prices increased 26.38% MoM to USD 0.91/kg as reduced production from plant viruses damage and rain limited supply and exports.

- Onion: In Mar-25, Indian wholesale onion prices dropped 25% MoM to USD 0.18/kg following increased domestic supply, although the removal of export duties may support future prices. Mexican prices fell 28.57% MoM to USD 0.35/kg due to market oversupply from multiple sources impacting its main United States (US) export market. Meanwhile, Egyptian prices decreased 26.31% MoM to USD 0.14/kg, influenced by domestic demand around Ramadan while benefiting from stable production and positive export expectations.