The price of onions in Ukraine is growing rapidly: analytics and forecasts

The price of onions in Ukraine is growing at a rapid pace due to the reduction of stocks of the old crop. Since the beginning of this week, farmers have increased onion prices by an average of 17%. This information was provided by analysts of the EastFruit project, which track trends in the agricultural products market.

Farmers who have quality products at their disposal have been gradually increasing the selling prices for last year's onions since the beginning of the month. Currently, farms offer onions at 17-25 UAH/kg ($0.43-0.63/kg). This is a significant increase compared to the beginning of the week.

The main reason for the price increase is the rapid reduction of stocks of the old onion crop against the background of growing demand. Stocks of onions from the previous harvest in farms are decreasing, which creates a shortage and contributes to an increase in prices. Analysts note that the demand for onions remains stable, which only strengthens the price trends.

Despite the current increase in prices, onions in Ukraine are 54% cheaper than in the same period last year. This is due to the fact that last season onion prices were much higher due to other market circumstances. However, most market operators are confident that onion prices will continue to rise, given current trends.

Onions have not been the most profitable crop for farmers this season due to relatively low prices from harvest to mid-April. At the same time, farmers who have quality products have been actively raising selling prices since the beginning of May, trying to compensate for previous losses.

Given these circumstances, it can be expected that the price of onions will continue to rise. This will force consumers to adapt to new price realities, and farmers to look for new strategies to remain competitive in the market.