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Onions: Russia is tapping into raw onions

November 15, 2016 at 4:07 PM , Der AUDITOR
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Onions: Russia is tapping into raw onions

Things look a little different on the market for onion derivatives. Although the Russian governments’ sanctions against European exporters favour offers on the European market, these entail that fresh onion exports from Egypt, as well as India, have increased dramatically. Egypt alone exported about 60,000 mt of fresh onions to Russia in summer 2016, which amounts to 89% of the entire import volume for this period. The infirmity of the Egyptian currency practically prompts traders to make their products available directly on the export market for US currency. As a result of this, there are less raw onions available to local producers of onion derivatives.    

 

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