Contours on the onion market not yet clear

Trade in 2020 harvest starts quietly. The market has yet to take shape and sales on the export market have yet to get going. Sales are normally quiet at this time of the year and usually start to take shape in August when more and more (African) destinations are finding their way to the Dutch onion market.

Searching bale prices
Bale prices are also still looking for a stable level. Bale prices have fallen by leaps and bounds in recent weeks. Few onions were brought in this week due to the rain. As a result, supply and demand remained in balance and bale prices stabilized at around €30 for the most common grades.

For the coming week, the weather is more stable, which means that many parties will be driven in. When these onions are dried and processed, more supply becomes available. Demand from exports will also have to increase in order to keep bale prices at a stable level.

Sowing onion market quiet
The seed onion market remains at a level of around €15. Many growers have had the opportunity to do business at this level that makes them want to see the price go up. However, there is no reason for processors to go along with this. Most packers have already taken a position and the seed onions still have to grow for a few weeks before they are lifted. Because a lot can still happen during this period, few seed onions are currently being traded.

The trade in onion sets is still cautious. Because the market has yet to take shape, processors and traders choose to react quickly and not buy onions too far ahead. 

Stock exchange quotations
The Goes Stock Exchange Committee is currently the only one of the three regional stock exchanges to issue a listing. The committee issues a quotation for winter onions and early spring onion sets. There is no change in the quotation of the winter onions this week, €23 to €25 is quoted, just like last week. The quotation for the early spring onion sets drops to a quotation of €17 to €20.