July 28 2014, 15:39 Fruit-Inform

Ukraine: onion prices fall to 9-year low

According to Fruit-Inform, onion prices fell to nine-year low in Ukraine.

Ukrainian farmers are forced to reduce prices due to low trading and purchasing activity and abundant supply of onions in the market. Thus, onions became 15-20% less expensive in the past weekend. As a result, growers are ready to ship onions at UAH 0.80-1.30/kg (EUR 0.05-0.08/kg), depending on quality and shipment volume. However, despite such a sharp fall in prices, onions are sold mainly to retail chains with wholesale companies' purchasing activity being still low.

We would remind you that a year before onion prices were averagely twice as high as today. Furthermore, current prices are the lowest over the past 9 seasons in Ukraine. Lower price levels were registered just in the seasons 2004/05 and 2005/06.