Inside: Onion Market
Spread in onion prices is growing
Beurs Emmeloord had the highest quotation for 60% large onions this week. This by writing a big plus at the top of the listing. The fact that higher prices are quoted at the top of the market does not immediately mean that all prices will go up. The spread in prices is increasing.
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Choose the subscription that suits youAfter a small revival at the end of last week, it was this week a quiet week at the onion market. Despite some positive ones starting points from exports, demand is not really increasing at the moment. The most recent export figures show that this export week was significantly less than the previous weeks. The provisional export figure was 12.907 tons, making it the second lowest export week of this growing season.
The Emmeloord quotation committee quoted €7,50 to €11,50 this week for the 60% large seed onions. With the €11,50 top price, the highest quotation of this growing season is achieved. The trade is looking for nice onions at the top end of the market. When the size, color and quality are good, then a little more is paid here and there for a batch of onions.
Large spread
The fact that some parties are spending a lot more money does not mean that all prices will go up. The spread in onion prices is very wide this year and is increasing further. The Emmeloord stock exchange recorded week 43 of 2017 onions from storage for the first time this growing season. At the time, €30 to €60 was quoted for the 6% to 7% large onions and €60 to €6,50 was quoted for the 8,50% large onions.
This means that at the time there was a spread between the top and bottom of the quotation of €1 for the 30% to 60% large onions and €2 for the 60% large onions. This spread has continued to increase throughout the season.
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The highest and lowest quotations for the 60% large onions.
Bigger than last year
The spread for 30% to 60% large onions is currently €2,50 and for 60% large onions it amounts to €4. For comparison; last season the spread in the same period was a maximum of €2 for large onions. It means that there is still a big difference in quality in the barns.
The trade is quite willing to pay a little extra for the most beautiful onions, but then the quality, color and size must be good. If the onions do not meet these requirements, the market will remain stable and lots will also be sold for significantly lower prices.
The highest and lowest quotations for the 30% to 60% large onions.