Onion prices in Ukraine have updated a historical record, when can we expect them to decline?

Fresh Onion

Vegetables

Ukraine

Published May 27, 2023

Tridge summary

In January 2023, EastFruit analysts warned that wholesale prices for this product would reach at least $1 per kg, and considered scenarios in which prices could even be significantly higher. Over the past three weeks, wholesale prices for onions in Ukraine have resumed their growth and by today have reached an absolute historical record both in local currency and in US dollars: UAH 48 and $1.31, respectively.

Original content

The previous record for the wholesale price of onions for Ukraine was set on May 5, 2019 and amounted to UAH 33/kg or $1.15, respectively, at the exchange rate for that day. It is interesting to note that currently in the countries of Central Asia, primarily in Tajikistan, the problem is the opposite - an oversupply of onions. There, you can already buy onions of a new crop even at 0.18 US dollars per kg, i.e. 7 times cheaper than in Ukraine. Why, then, does Ukraine not import onions from Tajikistan and should we expect stabilization or even a decrease in wholesale and retail prices for onions in Ukraine in the near future? With these questions, we turned to Evgeny Kuzin, an expert at the independent analytical company APK-Inform: Vegetables and Fruits. “Now there are practically no local onions left in Ukraine. EU imports of 2022 onion are offered at $1.20-1.40/kg and prices have risen this week. In the EU itself, prices for last year's onions are also growing. For example, this ...

Source: Eastfruit