Due to more supply than demand and disappointing export volumes, prices for yellow onions have fallen to the lowest level since the summer of 2022. Red onions are still relatively expensive.
Agricultural fair North and Central Netherlands (LNCN) in Emmeloord, Flevoland, recorded 15 to 18 euros per 100 kilos this week for 60 percent large onions. That is on average 24 euros lower than at the beginning of this year. Back then, the most expensive yellow onions were sold for 45 euros. The LNCN listing committee describes the onion market as lackluster. That is an indication that there is now more supply than demand for yellow onions.
The 60 percent large red onions at LNCN were quoted at an average of 65 euros per 100 kilos in week 16. This turned out to be the last quotation of the season, because not enough transactions are reported anymore. Only the Middenmeer fair published an indicative price of an average of 63 euros for medium-sized red onions last week when the market was calm. Traders report that imports from Egypt, among others, are putting an end to the limited availability of red onions.
Different mood
One cause of the lower prices for yellow onions is the lagging demand and the larger supply than previously expected. Since Statistics Netherlands adjusted the final onion harvest of 2023 upwards by a few percent in January, there has been a different mood on the onion market. What plays a role in terms of demand is mainly the relatively disappointing exports.
Figures from GroentenFruit Huis show that exports up to and including week 13 are almost 115,000 tons lower than in the same period last year. In week 13, 20,000 tons of onions were sold to foreign destinations. In volume this is 10 to 20 percent higher than the previous weeks. This is partly due to the more than 2,000 tons of onions that were shipped to Brazil in the week in question.
What is striking about the export figures are the relatively larger volumes of onions sold to Israel from the beginning of March. In both weeks 11 and 13, Israel was the largest buyer of Dutch onions with more than 3,000 tons. The total export volume to the country stands at 24,500 tons up to and including week 13. That is 8,000 tons more than the year before.
