In W45 in the onion landscape, Ukrainian farmers raised the onion prices due to increased demand and the general decrease in the substandard onions supply in local farms. In W45, high-quality onions were priced between USD 0.28 to 0.42/kg, marking a 25% week-on-week (WoW) increase.
Senegalese onion exports are starting despite a 15-day delay due to persistent rain, with an increase in onion growing areas compared to the previous season. Red onion varieties dominate the production, but yellow onions are being prioritized more for export. Onion producers in northern Senegal export to Mauritania and Mali, while the central area exported 20 thousand tons to Spain last season. Senegal highly depends on onion imports from the Netherlands and Morocco for its local market demand. However, Morocco's ban on onion exports to West Africa in Feb-23 has impacted the local market in Senegal, leading to price increases and encouraging growers to expand their acreage.
The Indian government is addressing the recent surge in onion prices through subsidized sales at USD 0.0033/kg (INR 0.27/kg) to protect consumers due to the delayed arrival of the kharif crop. Additionally, a minimum export price of USD 809.43 per metric ton (mt) was imposed. The government is maintaining a buffer by purchasing rabi onions to stabilize onion prices. The buffer size has increased from 2.5 mt to 7 mt in 2023, with 5 mt already purchased. These efforts have resulted in a 24% reduction in Lasalgaon market prices, with a similar drop anticipated in retail prices in W45.
Moreover, Chinese onion prices have fluctuated due to reduced production in primary growing areas and increased onion export tariffs in India. Yellow onions prices have remained stable, while red onions prices have increased since mid Sep-23 and rose sharply at the end of Oct-23. As a result, onion prices in China rose in mid Oct-23. The fluctuating prices are due to the reduction in onion production in India.
In Myanmar, onions have significantly increased prices due to Bangladesh's increased purchasing power. Onion prices in the Yangon market rose from USD 1.52/tulle to USD 1.76/tulle (MMK 3,200/tulle to MMK 3,700/tulle) on November 1. The delay in the launch of new onions and the country's increased purchasing power has led to farmers having low inventory, causing the price to rise. The onion trading station predicts that prices will stabilize when onions grown during the rainy season are available in November and December.
Lastly, according to the Ministry of Agriculture, Kazakhstan exported 67 thousand tons of onions over the first eight months of 2023. The main export destinations were Russia, Uzbekistan, Pakistan, and Turkmenistan. The Ministry of Agriculture reported that cabbage, onions, and carrots were among the main exports