Onion prices have fallen by 20% in a week: what will happen to prices next?

Onion prices in Ukraine have once again surprised everyone with their decline. This week, this vegetable can be purchased for 6-13 hryvnias per kilogram, which is approximately 15-31 cents per dollar. This is 20% cheaper than it was a week ago. What caused such a sharp price drop?

It turns out that late varieties of onions from the northern and western regions of the country are coming to the market. This has led to a significant increase in supply, which, in turn, prompts farmers to hasten sales to avoid losses. Such a situation leads to a sharp decline in prices for this product.

Producers report that they are primarily selling onions that do not store well due to their quality. Farmers are in a hurry to get rid of them to avoid losing money,' experts in the field explain.

The complicated situation in the market

Despite the price decrease, the situation in the onion market remains complicated. Already, it is 24% cheaper than in the same period a year ago. However, this year's harvest turned out to be smaller due to adverse weather conditions, so prices may rise again in the future.

Ukrainian farmers are once again facing problems with onion prices, but this time with downward trends. Considering that this vegetable crop is one of the staples in the diet of Ukrainians, further price fluctuations may have various effects on farms and consumers. Therefore, it is important to closely monitor market trends.