The Egyptian onion season is coming to an end, as many exporters have already stopped their campaign. Compared to the previous season, volumes have been significantly higher this season, causing prices to decrease.
The sector struggled to return to normal after the export ban from October 2023 to April 2024, justified by unbearable prices for domestic consumers. Prices reached high levels on local and export markets, in a context of global scarcity last season, attracting growers and leading to a significant increase in production this season. According to professional sources, production this season is estimated at five million tonnes.
© E2
Mina Anthony, CEO of E2M, has already completed his export campaign. He says, "The season started very well, with high prices, but prices then adjusted to the high availability. Prices were therefore lower than in the previous season during most of the export campaign."
According to the exporter, demand for Egyptian red onions was strong during the season, particularly from two key markets: Spain and the Netherlands. He adds, "European Union markets in general maintained stable demand for Egyptian red onions. Other markets were slower than expected, such as Canada, where Egyptian supply was competing with that of the United States."
The harvest of Egyptian onions ended in late June, with exporters still active in the market switching to storage. Prices for Egyptian onions continue to fall, as is customary, until the end of the export season to Europe in the last week of July.
Given the usual cyclical variation in volumes, it makes sense to anticipate a decrease in Egyptian onion volumes next season and to rule out the possibility of oversupply, Anthony concludes.
For more information:
Mina Anthony
E2M
Tel: +201271227787
Email: [email protected]
www.e2m-eg.com
