Price forecasts for onions for Ukraine is based on an online survey of market players

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The EastFruit project carried out an anonymous survey among traders on its Telegram channel about the potential of wholesale prices for onions from March 2024 to Ukraine. Furthermore, representatives of the market for fruit and vegetables of the two largest platforms for trading UkrOpt as well as the EF Trade Platform took part in the poll. For two days, over 250 participants shared their thoughts regarding the outlook for onion prices.

The views of the market players differ greatly This indicates that there is a complete lack of certainty between traders and farmers about how prices for onions will be determined and prices in the coming weeks! The decline of wholesale prices for onions in the week prior, as all expected them to rise has added to the uncertain situation.

Incredibly, the market’s participants are least than a third trust in stability of prices, and among the most requested choices were “onion prices will rise little by little,” according to nearly 29% of participants believe to be the case, and “onion prices will fall” that is the most likely scenario for 25% of respondents. About 19% of respondents think there will be a dramatic growth in wholesale prices of onions in Ukraine during March 2024.

If we are able to combine and digitalize the indicators from surveys, the outlook for the wholesale prices of onions for March 2024 in Ukraine is +1 percentage. The information is available for verification within five weeks.

There is a continuing shortage of onions in the Eastern European market. Imports of onion from Egypt will be restricted up to the time March 2024. Likewise, imports coming from New Zealand are significantly more expensive, and will take longer due to the long travel time across Africa that is caused by the Iran-backed attack of Houthis against civilian vessels within the Red Sea.

However, Poland actively imports onions in large quantities, not just from Uzbekistan as well as Kazakhstan as well as Russia that results in less expensive prices on this market. Ukraine however exports onion into Romania, Moldova, Bulgaria, Greece and North Macedonia.

More information about the company: East-fruit.com

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Source: The Plantations International Agroforestry Group of Companies