In June, Brazil imported 22,000 tons of onions, primarily from Argentina. From January to June, total foreign onion imports reached 133,000 tons, representing a 46% decline compared to the same period in 2024, as reported by Comex Stat. Expectations are that import volumes will decrease further due to rising domestic supply.
Despite increased local production, Argentina's substantial onion stock may lead exporters to continue shipping to Brazil at low prices. Consequently, market prices remain subdued with limited short-term recovery prospects.
This situation stems from the 2024 season, where Argentine producers benefited from strong export demand due to Brazil's crop shortfall. Southern Argentina continues to be the main supplier to Brazil, with producers having increased planted areas, anticipating similar market conditions as experienced in 2024. Although facing weather challenges, the harvest yielded good volume and quality.
Argentine stocks are seeing a decline in quality and market value, prompting efforts to sell increased volumes in Brazil, impacting the local harvest calendar.
Source: HF Brasil
