Onion Price in Canada - 2024
Contents:
- Onion Price in Canada (CIF) - 2024
- Onion Price in Canada (FOB) - 2024
- Onion Imports in Canada
- Onion Exports in Canada
Onion Price in Canada (CIF) - 2024
In March 2024, the average onion import price amounted to $5,384 per ton, rising by 318% against the previous month. In general, the import price recorded a resilient increase. As a result, import price attained the peak level and is likely to continue growth in the immediate term.
There were significant differences in the average prices amongst the major supplying countries. In March 2024, the country with the highest price was Mexico ($2,141 per ton), while the price for China ($836 per ton) was amongst the lowest.
From March 2023 to March 2024, the most notable rate of growth in terms of prices was attained by the United States (+3.8%), while the prices for the other major suppliers experienced more modest paces of growth.
Onion Price in Canada (FOB) - 2024
In March 2024, the average onion export price amounted to $1,135 per ton, with an increase of 12% against the previous month. Over the period from March 2023 to March 2024, it increased at an average monthly rate of +2.6%. The most prominent rate of growth was recorded in June 2023 when the average export price increased by 22% m-o-m. Over the period under review, the average export prices attained the peak figure at $1,208 per ton in July 2023; however, from August 2023 to March 2024, the export prices remained at a lower figure.
As there is only one major export destination, the average price level is determined by prices for the United States.
From March 2023 to March 2024, the rate of growth in terms of prices for the United States amounted to +2.5% per month.
Onion Imports in Canada
In 2022, after three years of growth, there was significant decline in purchases abroad of onions (dry), when their volume decreased by -9.2% to 225K tons. The total import volume increased at an average annual rate of +2.9% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 18% against the previous year. As a result, imports reached the peak of 248K tons, and then shrank in the following year.
In value terms, onion imports skyrocketed to $244M in 2022. In general, total imports indicated a resilient expansion from 2019 to 2022: its value increased at an average annual rate of +10.9% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, imports increased by +51.7% against 2020 indices. As a result, imports reached the peak and are likely to continue growth in the immediate term.
| Import of Onion in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 119 | 105 | 129 | 162 | 10.8% |
| Mexico | 47.6 | 43.1 | 44.7 | 62.2 | 9.3% |
| Peru | 5.7 | 7.2 | 7.2 | 7.4 | 9.1% |
| Spain | 1.1 | 1.1 | 1.6 | 5.4 | 70.0% |
| Others | 5.2 | 4.5 | 6.5 | 6.4 | 7.2% |
| Total | 179 | 161 | 189 | 244 | 10.9% |
Top Suppliers of Onion to Canada in 2022:
- United States (176.5K tons)
- Mexico (31.2K tons)
- Spain (7.9K tons)
- Peru (5.1K tons)
Onion Exports in Canada
For the fourth consecutive year, Canada recorded growth in shipments abroad of onions (dry), which increased by 29% to 83K tons in 2022. The total export volume increased at an average annual rate of +10.5% over the period from 2019 to 2022; however, the trend pattern indicated some noticeable fluctuations being recorded throughout the analyzed period. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
In value terms, onion exports surged to $80M in 2022. Overall, exports continue to indicate significant growth. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Onion in Canada (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| United States | 41.7 | 41.6 | 55.1 | 79.8 | 24.2% |
| Others | 0.2 | 0.1 | N/A | N/A | -50.0% |
| Total | 41.9 | 41.7 | 55.1 | 79.8 | 24.0% |
Top Export Markets for Onion from Canada in 2022:
- United States (83.0K tons)
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