Prices for onions in storage falls

New harvest of onions enters Chinese market

The wholesale price of red onions in the Xinfadi Market is currently 0.6-0.7 yuan [0.09-0.10 USD] per 0.5 kg. That is a fall of 18% in comparison with the price of 0.7-0.9 yuan [0.10-0.13 USD] per 0.5 kg last week.

The vast majority of onions currently on the market were harvested last fall and kept in storage during winter. The main production areas are Gansu, Inner Mongolia, Liaoning, Jilin, and Heilongjiang. The price showed a significant downward trend last week. The main reason for this development is the growing supply of red onions from Jianshui in Honghe, Yunnan. The new harvest puts severe pressure on the price of onions from storage. The price of onions in storage, whether they are red onions or yellow onions, dropped as a result of this pressure. When the onions from Yunnan begin to enter the market in bulk, then the price of onions in storage is likely to drop.

Source: bjnews.com.cn


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