In W43 in the onion landscape, the average wholesale price of onions in India, particularly at the Lasalgaon Agricultural Produce Market Committee (APMC) in Maharashtra, has seen a significant increase of nearly 60% over the past two weeks, with an 18% rise week-on-week (WoW). In some markets, the maximum price for top-quality onions reached USD 0.60 per kilogram (kg) in both Delhi and Maharashtra. These rising onion prices are expected to continue until Dec-23 when the new kharif crop is anticipated to enter the market, albeit with a delay of nearly two months. Furthermore, to address the price increase, the central government imposed a 40% export duty on onions on August 25, primarily due to the delayed and reduced sowing of the Kharif crop. Additionally, the government has been selling onions procured by Nafed in wholesale markets at rates below the prevailing market prices to mitigate the price increase.
There are rumors that Turkiye has removed the export ban on onions implemented a year ago. This move has the potential to have a negative impact on onion prices in the market. It appears that Turkish authorities might be taking advantage of the situation caused by Egypt's ban on onion exports, especially given the high onion prices in the Middle East due to restrictions in India. In contrast, prices for quality onions in bulk in Turkiye start from USD 0.25/kg, a price range similar to that in Ukraine, Moldova, and Georgia. Turkey is a significant onion exporter, annually supplying foreign markets with 220 to 280 thousand metric tons (mt) of fresh onions. Its primary markets for onion exports include countries like Iraq, the United Arab Emirates (UAE), Russia, Bangladesh, Syria, Libya, and Georgia.
In 2023, Azerbaijan had a record onion harvest, leading to an oversupply and a sharp price decline. Wholesale onion prices in Azerbaijan have reached their lowest level in the region, at approximately USD 0.15/kg. In comparison, neighboring Georgia has onion prices at around USD 0.28/kg, similar to the price level in Ukraine and Moldova. Meanwhile, in Russia, onion prices are only slightly higher than in Azerbaijan, at about USD 0.16/kg.
According to the National Commodity Supply Company (Conab), Brazil, the average prices of vegetables, including lettuce, potatoes, carrots, and onions, in primary agricultural wholesale markets (Ceasas), declined in Sept-23. Even though the supply of onions in the wholesale market decreased in Sept-23 compared to Aug-23, their average price still dropped, and the decline was more significant compared to other products.
Lastly, the Moroccan Minister of Agriculture and Fisheries is providing unprecedented support to round tomato, onion, and potato production due to high seed costs. Support for onion production will range from USD 390.46 to 488.07/ha. This decision follows two seasons of prolonged drought and insufficient rainfall.