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China: high onion prices

Onion prices are very high in China this year. Until March, onion prices were considerably low. In April prices started to rise unexpectedly due to the amount of onions on the market being small. These circumstances normally change when large amounts of onions enter the market. However, in June this year onion prices still showed a rising trend.

Compared with last, year prices have improved substantial. Up until now, the onion prices have climbed continuously. It is predicted prices will stabilize. The outlook for the future is optimistic.

Exports have a significant influence on onion prices in China. As of October 2015, the onion export amount reached 658,300 tons, an increase of 9.1% compared with 2014. India's drop in crop yield also has a significant influence. In 2015, onion exports to South Korea grew the fastest. Up till October, onion exports to Korea amounted to 75,200 tons, accounting for 11.4% of the total export amount.

Source: cnr.cn