Onion Price Trend and Forecast

Regional Price Overview

Get the latest insights on price movement and trend analysis of Onions in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).

Onion Price Trend for the First Half of 2023

The prices of onions expanded globally in the first and second quarters of 2023, which in turn adversely affected the consumer purchasing appetite. In the Philippines and most Asian countries, the cost of onions even surpassed chicken and other non-vegetarian options by almost 25-50%. However, during these drastic changes in the prices of onions, the demand for them did not decline as it is a staple food around the globe, thus driving its price trend towards an inclining trajectory.

Onion Price Chart

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The main causes of this shoot-up were global inflation, extreme climate conditions, and severe disruptions in the supply chains. The inflation rates have been hiked because of the poor condition of the global economy, and thus, to keep the market activities afloat, the traders and manufacturers had to increase their price quotations. Further, the majority of Asia-Pacific and European countries suffered from extreme weather conditions such as heat waves, hailstorms, and unseasonal rains, which negatively impacted the stockpile levels. In addition to this, the ongoing Russia-Ukraine crisis blocked several trade routes, leading to disruptions in the supply chains and thus eventually causing the prices of Onions to incline.

Analyst Insight

According to Procurement Resource, the price of Onions is estimated to showcase an oscillating trajectory as with the improvement in the production of Onions and the effectiveness of the supply chains, the growth of Onions prices is expected to decline.

Procurement Resource provides latest prices of Onion. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.