In W41 in the onion landscape, despite a 40% rise in export duty on onions in India, wholesale markets continue to experience rising prices. The main reasons for this positive trend are the non-availability of quality onions and the late arrival of the crop. This trend is forecasted to continue until mid-November. The export duty and the halt on exports have had little impact on onion prices in the markets. For instance, in Lasalgaon's market, the largest onion market in the country, the average price of onions was between USD 27.65 to 28.85 per 100 kilograms (INR 2,300 to 2,400/100 kg) before the export ban was imposed. This price trend remains consistent in W41, with the average traded price of onions at USD 9.69/100 kg (INR 2,470/100 kg), marking the highest recorded in Oct-23. Lasalgaon's market handles around 1.10 thousand to 1.2 thousand tons of onions daily.
Bangladesh has started large-scale imports of onions from India to reduce prices, but onions have remained the same in retail markets. During Oct-23, all types of imported and domestic onions sold at USD 0.73 to 0.86/kg(BDT 80 to 95/kg), the price before imports began. Vegetable prices have increased by USD 0.091 to 0.36/kg (BDT 10 to 40/kg) in W39. The price of domestic and imported onions has also increased by USD 0.045 to 0.091/kg (BDT 5 to 10/kg).
Furthermore, the cultivation of Kondo onions has been delayed due to excessive rainfall in early Oct-23 in Bangladesh. This delay in planting the crop may result in increased onion prices. Farmers in Pabna, the largest onion-producing district in the country, experienced up to a ten-day delay in cultivation due to severe waterlogging caused by heavy rain. This delay impacts the timeline for harvesting the crop in early winter, which typically helps meet demand until fresh stocks become available on Mar-24.
The Egyptian government's three-month ban on onion exports, from October 1 to December 31, 2023, partially impacted markets. Onion prices have decreased to USD 24.44/kg (GBP 20/kg) compared to USD 30.55/kg (GBP 25/kg). Egypt has achieved self-sufficiency in onions, but high external demand and price fluctuations led to increased exports in 2023, causing prices to rise to USD 36.67/kg (GBP 30/kg). The export ban aims to stabilize prices and may lead to increased imports. During W40, onion prices in the wholesale market were USD 18.33/kg (GBP 15/kg), while prices for tomatoes, potatoes, zucchini, carrots, and beans ranged from USD 12.22/kg to 18.33/kg (GBP 10/kg to 15/kg).
Lastly, in the Netherlands, the prices of red onions are notably high due to a 24% reduction in acreage, poor harvest, and quality issues, including sun damage and fusarium wilt, which have further compounded the challenges in the market. During W41, producers sold onions for at least USD 0.5/kg (EUR 0.50/kg), with medium-sized packs costing around USD 0.42/kg (EUR 0.40/kg) and larger ones priced between USD 0.85/kg and USD 0.90/kg (EUR 0.80/kg and EUR 0.85/kg). The market is also facing competition from China, which offers significantly lower prices. Although demand typically increases in the second half of the season, quality problems persist.