Huge demand for Egyptian onions, price nearly doubled in 45 days
The season for red onions in Egypt is experiencing some instability when it comes to prices, but ove…The season for red onions in Egypt is experiencing some instability when it comes to prices, but overall the season has been very good. Demand was already high enough, but thanks to India wanting to push their domestic price down, that country has proven to be a great option for Egyptian onions.
Prices of Egyptian red onions have nearly doubled in the last 45 days, as demand has skyrocketed recently. It’s contributed to a good season for Egyptian onion exporter MMA Fresh Produce, says company International Sales Manager Mostafa Adel: “Our season has been good this year, from the start until this very moment. We’ve had to deal with unstable prices, but the overall view of the season is okay. Egyptian onions had their price increased from 2900 EGP to 5500 EGP in less than 45 days, which shows how big the demand is for onions from Egypt.”
Egypt has had a plentiful harvest, with larger quantities being available thanks to great weather and late winter weather conditions. These late winter conditions are especially beneficial for the volumes of the onions. “The biggest demand for the onions comes from Asia. Mainly India, Bangladesh and Sri Lanka have been great markets for us. Prices for onions there are crazy at the moment, with India charging 80 RS (1.10 $), Bangladesh charging 240 TK (2.85 $) and Sri Lanka selling for 220 RS (1.20 $). We’re preparing for a big tender on 2000 tons to India and 7000 tons to Bangladesh.” Adel said.
To serve this market better in the future, M.M.A. has set a goal to establish a new office in India. “The new office will allow us to sell to neighboring countries and increasing our quantities of exports in potatoes, onions and oranges. At this point no country can compete with the prices of Asian countries, as their transit time is the lowest.” Adel concludes.