After a rather long period of stagnation in Russia, the demand for onions has intensified, allowing local growers to raise prices, EastFruit project analysts report. The main reason for the increase in the cost of onions was the rapid reduction in stocks of high-quality onions. According to the producers, to date, the quality of onions in storage continues to deteriorate rapidly, as most farmers deliberately stored products that were initially unsuitable for long-term storage.
According to the project’s daily monitoring data, local producers offer high-quality onions at 13-22 RUB/kg ($0.17-0.29/kg) now, which is 10% more expensive on average than a week earlier. According to representatives of wholesale companies, today it is quite difficult to find the required volumes of high-quality onions. The main offer on the market is low-quality onions with a limited period of sales. Those producers who still have the necessary volumes of high-quality onions currently sell them either in small batches or under agreements concluded earlier.
It should be noted that the current price of onions in Russia is on average 22% higher than in the same period last year. Market participants do not rule out that the upward trend in prices in this segment will continue, and the growth rate of onion prices will accelerate as the stocks in farms decrease.
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