Last week it became clear that it was not easy to get a listing of onions on the plates of agricultural fair Goes. How's that this week?
The onion listing committee in Goes has the annual task of kicking off the listing of onions. Last week it proved difficult to estimate onion prices based on past transactions, but this week is no exception. In fact; the stock exchange even placed a comment on the listing stating that it was based on few transactions. It illustrates the situation in onion country, where sales are still a problem.
Falling bale prices
Exporters indicate that the bale prices are still firmly priced and that they need to drop even further to stimulate demand for onions. The bale price is said to have already dropped towards €30 and exporters are cautiously hoping that demand for onions should now pick up. A number of trading parties still have imported onions from Egypt, among others, which they would rather get rid of, both physically and financially, at the moment. This also slows down the trade in onion sets.
As a result of a very limited number of cases, Goes saw an opportunity, or rather; showed the will to get onion sets listed again. At €15 to €19 per 100 kilos, the change compared to last week is significant. However, the question is whether a further price reduction can be expected next week. Some stabilization of the onion price can increase customer confidence and thus give sales a positive development.