Currently, onion prices in Ukraine are on average already 12% lower than at the end of February 2024.
In Ukraine, farmers began selling off their onion stocks en masse as the quality of the vegetable in storage began to rapidly deteriorate. This led to a fairly sharp drop in onion prices.
This was reported by analysts from the EastFruit project.
Thus, since the beginning of the current week, onion prices in Ukraine have fallen by an average of 12%.
As of February 28, farmers sold their products at 7-13 UAH/kg ($0.17-0.31/kg) depending on the quality and volume of the offered batches of products.
Producers also explain the price reduction by a sharp deterioration in product quality. Many stored wet onions in storage, which began to sprout quickly in the warm winter conditions.
Stimulating the sale of substandard products, even by reducing prices, does not currently produce the desired results.
“Prices for wholesale lots of medium and low quality onions are already being announced in the range of 4-6 UAH/kg, but buyer activity in this segment is very low,” the report says.
Analysts noted that currently onion prices in Ukraine are on average 12% lower than at the end of February 2024. Thus, by the end of the current week, prices on the domestic market in this segment may reach their minimum value in at least the last four years.
Let us recall that production in the first month of the current year increased by 32.5% compared to the same period last year. Prices in Ukraine increased by 34.8%.