World: Participants in the onion market are firmly convinced that it will rise in price

Published Oct 19, 2023

Tridge summary

A survey conducted by the EastFruit team found that the majority of market participants, 65%, believe that onion prices will increase by early April 2024. Only 25% predict a decrease in prices. Factors such as rumors of declining yields and poor quality in EU countries, a ban on exports from Egypt and Turkey, and an increase in onion storage by inexperienced traders contribute to the expectations of higher prices.

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

Original content

The EastFruit team conducted a survey on the most relevant topic for the region’s fruit and vegetable market in its Telegram channel. We asked subscribers how they see the prospects for onion pricing by early April 2024 compared to today. The survey results were somewhat unexpected - the vast majority of market participants, namely 65%, believe that onion prices will increase, with 19% expecting onion prices to more than double after storage. Here's how survey participants' responses were distributed. Only 25% of those who took part in the survey, i.e. every fourth person expects onion prices to decrease by April. And this is not surprising, because a decrease in onion prices after storage occurs quite rarely, and in many countries this has never happened before. In addition, many market participants reacted to the news about restrictions on the export of onions from India, although this does not in any way affect the market in our region, and Indian onions are predominantly ...

Source: Eastfruit