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Ukrainian onion prices drop 10% as quality declines and supply increases

Ukrainian onion producers have initiated a significant reduction in prices this week, driven by a marked decline in the quality of stored onions in 2024, as reported by EastFruit project analysts. This price reduction is further compounded by a current decrease in demand for onions. Consequently, the market has seen onion prices adjust to 9-15 UAH/kg ($0.21-0.36/kg), reflecting an average decrease of 10% from the previous week's closing figures. The price variance is attributed to the quality and volume of the batches available.


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Moreover, several producers, who had previously halted sales earlier in the season, have now reopened their storage facilities. This action has led to a significant influx of onions into the market, exerting additional downward pressure on prices. Despite the current downturn, it is highlighted that onion prices are, on average, 10% lower than in the same timeframe last year. Producers acknowledge the seasonal nature of this decline in demand and pricing, anticipating a revival in trade towards the end of February. By this time, it is expected that the majority of medium and low-quality onion stocks will have been depleted from the market.

Source: East Fruit

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