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Egyptian Onions Expelled from European Market

Egyptian onion exports that were thriving all over have been ousted from the European markets due to the recent recovery of domestic production. Declining supply worldwide had favored exports, which have now exceeded 324 thousand tons.
24.09.23 | Source: EastFruit

The Egyptian onion exports witnessed an unprecedented boom on the global platform, especially in Europe. This surge was due to the worldwide decrease in supply. According to Mohammed Hassan, CEO of On Trade, exports rose significantly as compared to the previous season. Currently, exports have crossed a staggering 324 thousand tons. The rise happened concurrently with a decrease in onion acreage in Egypt, thereby escalating prices. However, this situation was circumstantial and normalized by September. European domestic production, particularly in France, the Netherlands, and Greece, regained pace. As a result, the Egyptian onions found themselves expelled from the European market. The high export volumes to Europe sustained only until August. Presently, most exports are directed towards East Asia, certain African markets, and Arab countries. Market instability, despite the export increase, posed commercial challenges. Mohamed cited that increasingly difficult climatic conditions led to a surge in production costs, particularly this year. Moreover, the market’s instability caused extensive price fluctuations, changing sometimes by the hour. This instability resulted in certain situations where profits were next to nil on exports.