Egyptian tomato prices fell by 64% and onions by 83% in wholesale markets

Published Apr 18, 2024

Tridge summary

In the Obour market, a significant decrease in the prices of agricultural crops, notably onions and tomatoes, has been observed due to increased daily harvest rates prompted by a rise in temperatures. This surge in production, particularly after the Eid al-Fitr holiday, led to price reductions of up to 83% for onions and 64% for tomatoes. The head of the Farmers Syndicate highlighted that these price fluctuations are mainly due to the dynamics of supply and demand, exacerbated by the high temperatures. Despite the potential for export, an oversupply, especially of onions following the expansion of cultivation areas, has resulted in persistently low prices. The article also notes a general trend of price adjustments across various fruits in the market, reflecting the broader impact of these conditions on agricultural product prices.

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

Original content

The prices of agricultural crops decreased in the Obour market due to the rise in temperatures, which leads to an increase in daily harvest rates, according to a number of traders, especially onions and tomatoes. A number of merchants added to Al-Mal that the price of some items fell to between two and three pounds instead of 10 and 12 pounds recently, noting that the price of onions doubled to 7 pounds instead of 15 pounds in the Obour market for wholesale trade. Traders added that the price of a tomato cage also decreased to 90 pounds instead of 250 pounds, by 64%, as a result of the increase in production rates following the end of the Eid al-Fitr holiday. Hussein Abdel-Rahman Abu Saddam, head of the Farmers Syndicate, confirmed to Al-Mal that the main factor in pricing vegetables on the Obour Market Stock Exchange is daily supply and demand, noting that high temperatures contribute to the density of daily supply in the markets. Abdel Rahman added that the current period is ...

Source: Almalnews