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    Economics

    Uzbekistan breaks export records as its onions flood foreign markets

    Uzbekistan breaks export records as its onions flood foreign markets

    Extensive quantities of onions from Uzbekistan have been successfully exported to foreign markets since the lifting of export restrictions nearly four months ago. Kazakhstan and Russia, being the primary purchasers, account for approximately 90% of the total exports, EastFruit reports.

    Uzbekistan's onions flood into foreign markets
    Source: “Daryo” / Madina Nurman

    The ban on exporting onions was lifted in Uzbekistan on March 15, 2023, less than two months after its initial imposition. Preliminary trade statistics indicate that within 3.5 months following the lifting of restrictions, from mid-March to the end of June, a record-breaking 222,800 tons of onions were shipped to foreign markets. This represents a 53% increase compared to the same period last year and a 40% increase compared to the corresponding period in 2021.

    Despite the notable expansion in the range of export destinations this season, the EAEU countries accounted for 95% of the total onion exports during the aforementioned period. Among these countries:

    • Kazakhstan received 129,400 tons (58.1% of the total)
    • Russia imported 70,100 tons (31.4%)
    • Kyrgyzstan received 8,100 tons (3.6%)
    • Belarus imported 4,800 tons (2.1%).
    The country exported onions to more than 15 countries
    Source: “Daryo” / Madina Nurman

    The remaining export volume of onions from Uzbekistan was distributed among other countries as follows: Latvia received 3,300 tons, Poland imported 2,000 tons, Afghanistan received 1,600 tons, Ukraine imported 1,200 tons, Tajikistan received 473 tons, Lithuania imported 445 tons, Turkmenistan received 331 tons, Georgia imported 308 tons, Estonia received 282 tons, Moldova imported 276 tons, and the remaining 263 tons were distributed among other countries.

    After experiencing a significant decline from late May to mid-June, onion prices in Uzbekistan have stabilized at the same level over the past three weeks. Between May 26 and June 16, 2023, the average wholesale price of onions dropped from 4,500 to 2,500 sum/kg ($0.39 to $0.22), indicating a 44% decrease within three weeks. This decline was primarily attributed to reduced demand for Uzbek onions in foreign markets, despite an ample supply in the domestic market.

    From June 16 to July 7, 2023, the average wholesale price of onions in Uzbekistan remained stable at 2,500 sum/kg ($0.22).

     

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    12.07.2023, 01:10   Comments (0)   1187
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