The Oct ’21- Mar ‘22 average price of Indian onions increased by 50%, to INR 29,788/MT, against the previous average (Apr ’21-Sep ’21), largely attributed to unfavourable weather conditions in India, which caused supply shortages. Harvest was delayed in top producing states including Maharashtra, which accounts for over one-third of India’s total Kharif onion production, and Gujarat, another key onion producing state. Farmers in Maharashtra faced challenges in transplanting the crop in August 2021due a rainfall deficit and in Gujarat, there was the highest rainfall in almost a decade in September, which damaged a considerable proportion of the onion crop.
Conversely, the average price of Dutch onions fell by 18% to EUR 132/MT in the last six months (Oct ‘21-Mar ‘22), compared to the previous six-month average (Apr ‘21-Sep ’21), in line with steady supply levels. Dutch onion production is estimated to rise by 12% y-o-y for the 2021/22 MY, at 1.47 million tonnes due to a higher acreage devoted to onion production.
From economical to political, all the factors impacting the onion market have been analysed to provide a market outlook for the next six months. Mintec’s market outlooks (schedule) provide insights on factors shaping the market dynamics of various commodities, providing the opportunity for market participants to stay ahead of factors that will impact procurement decisions. Please visit our Mintec Analytics platform to find out more.