Onion prices are “almost historically high” in the world
Regulation & Compliances
Market & Price Trends
Published Feb 6, 2024
Global onion prices have reached record highs due to a combination of factors including export bans from major producers such as India and Egypt, and decreased production across Europe. European importers have sought onions from China, but supply chain disruptions caused by Red Sea attacks have led to a nearly 30% price increase in China. This surge in prices is also being felt in Germany, Spain, Italy, Austria, Denmark, and the Netherlands. In response to the high prices, Spanish producers are planning to boost their onion production.
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Many markets in different parts of the world are experiencing very high or almost historically high prices for onions. This is caused by several factors, the shortage is exacerbated by bans on the export of onions from traditionally large exporting countries India and Egypt. This is stated in the review of the onion market FreshPlaza. It is noted that European importers, amid restrictions from India and Egypt and a decline in production in most European countries, turned to China for onions. However, the attacks in the Red Sea are delaying supplies from China. They are satisfied with the significant increase in demand from Europe and domestically, but exporters in China are cautious because of this delivery problem. Over the past six months, prices in China have risen by almost 30%. India’s neighboring countries are acutely aware of the ban on overpriced exports in their markets. Due to the smaller harvest in Germany, there are high prices for domestic and imported onions from ...