Despite the good export weeks, it is quiet on the onion market. Processors buy few onions because it is still unclear how the export will develop after the turn of the year.
We're almost starting to get used to it, export weeks of more than 40.000 tons. This magical limit was also passed in week 46 because a weekly export of 40.286 tons was achieved. Exporters indicate that things are now a lot quieter on the export market. Many destinations have announced that their markets are full for the time being, so with the recent large volumes, it is not surprising that the onion market is (temporarily) oversupplied.
Uncertain sequel
It is still unclear how exports will progress in the coming weeks. African destinations generally decline in volume after the New Year because they largely switch back to local harvests. It is not yet clear whether there will be additional orders after January because there is not enough local product available. It is still unclear how exports to Asia will shape up. Will it remain difficult to obtain containers and will the export ban in India be extended? Because processors have these questions, they are currently purchasing few additional onions and the farm price remains stable.
Unchanged listing
For the fourth time in a row, all three regional stock exchanges are trading unchanged. In Goes this is a quotation of €3 to €19 and in Emmeloord and Middenmeer the prices remain stuck at €20 to €18. In addition, the stock exchange committees in Emmeloord and Middenmeer characterize the onion market as quiet, which means that the supply is greater than or equal to demand.
Because exports have been slowed down a notch, bale prices for the coarse grades in particular are under some pressure. An overview of the bale prices can be found in the DCA listing Bale price Onions.