Onions in Georgia are no longer so expensive, what happened?

Published 2023년 2월 27일

Tridge summary

Wholesale onion prices in Georgia have been fluctuating, with a peak in January that led to increased imports from Russia and Azerbaijan. Since then, prices have begun to decline, and the market is currently dominated by imports. The quality of the imported onions is starting to deteriorate, and importers are trying to sell their stocks quickly to avoid losses from spoilage, indicating that there is no expectation of prices rising again and they may even fall further before the new season.

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

Original content

Wholesale prices for onions in Georgia began to decline, although the price drop was preceded by a peak. At the end of January, the wholesale price of onions in the Georgian market increased from 1.6 lari/kg ($0.6) to 2.3 lari/kg ($0.87) per week, which stimulated imports. As a result, Georgia imported 3,460 tons of onions in January, mainly from Russia and Azerbaijan. According to the Ministry of Finance of Georgia, the average import price of one kilogram of onion in January was $0.38, while the wholesale price on the spot at the end of the month was already $0.9 (2.4 lari). Source: EastFruit Sales of local stock also resumed in January. Prior to peak prices, local growers and wholesalers refrained from selling onions, expecting a higher price. Onion prices peaked at 2.4 lari/kg in mid-February and we are now seeing a decline. See also: EF Price Alerts. Rising prices for apples and greenhouse vegetables, declining prices for cucumbers in Georgia and Tajikistan. Week 8, 2023 ...

Source: Eastfruit