As noted earlier by EastFruit analysts, a downward trend in wholesale prices for onions has set in Uzbekistan. Last week, their prices continued to decline, more rapidly than in previous weeks. At the same time, wholesale prices for onions in Uzbekistan have decreased to the lowest level among the countries of the region, where the international project team monitors wholesale prices for fruits and vegetables on a weekly basis.
According to price monitoring data, from March 3 to March 10, 2023, the average wholesale price for onions in Uzbekistan decreased from 7 000 to 6 000 UZS/kg (from $0.62 to $0.53), i.e. by 14% over the last week. Given the downward trend of the past month, we note that the average wholesale price for onions decreased by 25% from February 10 to March 10, 2023.
Compared to previous years, the current wholesale prices are still high. As of March 10, 2023, the average wholesale price for onions in Uzbekistan is 3 times higher than last year’s price on the same date and 5-6 times higher than the prices on the same date in 2020-2021.
Recall that EastFruit analysts have identified two main factors that caused a downward trend in the past month. The first is the increase in onion imports by Uzbekistan in January-February of this year, and the second is a sharp increase in average daily air temperatures in February and early March, which affects onions stored in improper conditions. Along with a record volume of onion imports, this forces producers and traders to quickly sell the available stocks of onions and thereby significantly increase the supply in the domestic market.
In addition, wholesale lots of early winter onions will be delivered to the domestic market in about a month, which also forces farmers and traders to quickly sell the available stocks of last year’s onions. As for the exports, so far there are temporary restrictions on the export of onions from Uzbekistan until the end of April this year.
It should be noted that the current wholesale prices for onions in Uzbekistan are the lowest among the countries of the region, where EastFruit monitors wholesale prices for fruits and vegetables weekly. As of March 10, 2023, the average wholesale price for onions in the countries of the region was (in US dollars per 1 kg): Uzbekistan – $0.53; Tajikistan – $0.73; Georgia – $0.85; Moldova – $0.91; Poland – $0.97; Ukraine – $1.23.
For more information: east-fruit.com