Tridge Analysis
W3: Weekly Onion Update
Tridge's global market analysts and country representatives look into what happened in W3 in the global onion landscape. In summary, in the United States, due to the cold weather conditions affecting the harvest volume of yellow onions in Sinaloa, prices for this commodity increased. In Belgium, the price of onions increased due to crop failure, onion stocks are limited, and the large sizes required for processing are scarce. In Kazakhstan, authorities have decided to ban the export of onions for three months to prevent mass export and to stabilize their prices, and Kazakhstan and the Khatlon region of Tajikistan are ready to expand cooperation in the supply of Tajik agricultural products. In Moldova, the average wholesale price for onions has increased by 12% in W1 and W2. In New Zealand, the onion harvest has been delayed by 2-3 weeks due to rainy weather. Peru exported 39.1K tons of sweet yellow onions, from July to December 2022. In the Philippines, the increased onion prices now cost more than beef due to a confluence of crop shortages, smuggling, and hoarding. On the other hand, in W2, Ukrainian producers actively raised selling prices for onions, but during W3, they had to lower their prices. Lastly, in Uzbekistan, onions reached USD 0.71 (UZS 8,000) for small wholesale lots. Uzbekistan announced the establishment of a temporary restriction on the export of onions for four months, starting from January 1, 2023.
