Onion prices fell sharply this week: what happened

In the market of onions in Ukraine, the decline in prices has intensified. Farmers, who previously expected an increase in the cost, have started a mass sale of stocks due to the deterioration of product quality, UNN writes with reference to EastFruit.

Details

This week negative price trends have intensified on the onion market in Ukraine. According to analysts of the EastFruit project, if last week many farmers refrained from sales in anticipation of higher selling prices, then this week Ukrainian farms started selling their stocks. The reason for this was a gradual deterioration in the quality of products.

The sharp increase in onion supply on the market immediately affected its cost. Currently, the main sales are in the range of UAH 8-14/kg ($0.19-0.34/kg), depending on the quality and volume of the batch, which is on average 12% cheaper than at the end of last week. In the current situation, owners of quality onions decided to temporarily suspend sales and announced their intention to resume them not earlier than March this year.

In addition, it should be noted that currently onion prices in Ukraine are already on average 20% lower than at the beginning of February 2024.

Recall 

The government approved a program to develop livestock breeding in Ukraine until 2033, which will be a step to revitalize the industry and integrate it into the global economy.