October 31 2008, 10:57

Russia: prices for onion decreased by 40%

Prices for onion decreased by 40% throughout most production regions of Russia as compared to the last year indices. According to market participants, the main reason is onion overproduction. The other important factor negatively influenced the prices, is difficulties with bank crediting. Some farmers had to leave onion in the fields due to lack of financial funds and low demand for the vegetable.

According to the information provided by the specialists of Fruit-Inform project, at the moment prices for onion supply in the Southern region are declared within a range of 0.058- 0.102 euro/kg, down 30 % compared to the level set a week earlier. However, producers which do not have storing facilities are ready to make price concessions to refund production costs.

You can get the detailed forecast of onion market development in Ukraine and Russia during the largest conferences in the CIS: the Third International Conference "Fruit & Vegetable Business of Russia - 2008" and the Fifth International Conference "Fruits and Vegetables of Ukraine 2008".