In W32 in the onion landscape, traders in India expect the price of quality onions to nearly double to around USD 0.66 to 0.72/ kilogram (kg) (INR 55 to 60/kg) by September, due to an excess of low-quality onions caused by prolonged summer heat. Despite ample stock, prices are rising due to quality concerns and inflation in other vegetables. Wholesale onion prices in Nashik vary from USD 0.060 to 0.29/kg (INR 5 to 24/kg), with retail prices at USD 0.30 to 0.42/kg (INR 25 to 35/kg). About 30 to 40% of Delhi's onions are of low quality, leading to a 40% price increase. In July, Maharashtra's wholesale onion prices rose by 34% month-on-month (MoM) and 6% year-on-year (YoY).
Despite significant onion imports and local supply, prices have surged in the wholesale and retail markets of Bangladesh. Local onion prices rose by USD 0.091 to 0.14/kg (BDT 10 to 15/kg), while imported ones increased by USD 0.046 to 0.091/kg (BDT 5 to 10/kg) in Dhaka. Short supply and high import costs contribute to the price hike. Traders imported over 2.99 thousand metric tons (mt) of onions in two months, yet retail rates reached USD 0.69 to 0.73/kg (BDT 75 to 80/kg) and imported Indian onions cost USD 0.41 to 0.46/kg (BDT 45 to 50/kg).
The dry onion harvest has commenced in the Aydıncık district of Yozgat, a significant onion production region in Turkey. However, producers face challenges as export closures have decreased prices, while high costs and irrigation issues further impact yield. Farmers are calling for the resumption of exports to stabilize prices. Despite the ongoing harvest, the closure of exports has caused onion prices to drop significantly, making it difficult for farmers to find buyers.
The wholesale onion price in Moldova has remained stable for three weeks at USD 0.40 to 0.45/kg (MDL 7 to 8/kg), similar to the previous year. Experts anticipate a potential drop to USD 0.23 to 0.28/kg (MDL 4 to 5/kg) by September. The unprecedented expected decrease towards the end of 2022 is due to substantial exports to Ukraine last year, which has reduced due to increased domestic production.
Lastly, Peruvian onion exports have rebounded from an initially negative trend this year, leveraging high global market prices amid global shortages. This strategic approach has led to a 3% volume growth and 12% value growth in exports, reaching 88.27 thousand tons worth USD 32 million by July. The average onion price rose 9% to USD 0.37/kg. The price increase was due to a global onion shortage caused by planting decisions, fertilizer scarcity, and domestic challenges. The United States (US) market emerged as a significant destination, capturing nearly 90% of recent exports due to robust demand.