Onion Price in China - 2024
Contents:
- Onion Price in China (FOB) - 2024
- Onion Price in China (CIF) - 2022
- Onion Exports in China
- Onion Imports in China
Onion Price in China (FOB) - 2024
The average onion export price stood at $522 per ton in May 2024, shrinking by -8% against the previous month. Over the period under review, the export price saw a relatively flat trend pattern. The most prominent rate of growth was recorded in December 2023 an increase of 8.5% m-o-m. Over the period under review, the average export prices reached the peak figure at $587 per ton in January 2024; however, from February 2024 to May 2024, the export prices failed to regain momentum.
Prices varied noticeably by the country of destination: the country with the highest price was Vietnam ($771 per ton), while the average price for exports to Mongolia ($282 per ton) was amongst the lowest.
From May 2023 to May 2024, the most notable rate of growth in terms of prices was recorded for supplies to Mongolia (+7.7%), while the prices for the other major destinations experienced more modest paces of growth.
Onion Price in China (CIF) - 2022
In 2022, the average onion import price amounted to $165 per ton, declining by -64.2% against the previous year. In general, the import price recorded a noticeable downturn. The most prominent rate of growth was recorded in 2020 when the average import price increased by 103%. The import price peaked at $533 per ton in 2016; however, from 2017 to 2022, import prices stood at a somewhat lower figure.
There were significant differences in the average prices amongst the major supplying countries. In 2022, amid the top importers, the country with the highest price was India ($385 per ton), while the price for Myanmar amounted to $160 per ton.
From 2012 to 2022, the most notable rate of growth in terms of prices was attained by India (+5.3%).
Onion Exports in China
In 2022, shipments abroad of onions (dry) was finally on the rise to reach 835K tons after two years of decline. In general, exports, however, continue to indicate a deep reduction.
In value terms, onion exports soared to $565M in 2022. Over the period under review, exports, however, saw a perceptible reduction.
| Export of Onion in China (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Vietnam | 284 | 240 | 189 | 235 | -6.1% |
| Japan | 138 | 104 | 132 | 175 | 8.2% |
| South Korea | 4.9 | 9.1 | 11.9 | 33.3 | 89.4% |
| Thailand | 20.8 | 25.5 | 19.7 | 26.1 | 7.9% |
| Malaysia | 32.5 | 27.2 | 16.4 | 22.7 | -11.3% |
| Russia | 22.3 | 14.3 | 10.4 | 14.8 | -12.8% |
| Pakistan | N/A | N/A | N/A | 7.7 | 0% |
| Indonesia | 13.2 | 6.7 | 5.3 | 6.2 | -22.3% |
| Philippines | 6.7 | 21.1 | 26.0 | 2.1 | -32.1% |
| Others | 81.4 | 47.0 | 25.2 | 41.9 | -19.9% |
| Total | 604 | 495 | 435 | 565 | -2.2% |
Top Export Markets for Onion from China in 2022:
- Japan (269.3K tons)
- Vietnam (237.5K tons)
- South Korea (75.5K tons)
- Thailand (67.0K tons)
- Malaysia (58.2K tons)
- Pakistan (25.7K tons)
- Russia (22.6K tons)
- Indonesia (16.0K tons)
- Philippines (5.4K tons)
Onion Imports in China
In 2022, approx. 10K tons of onions (dry) were imported into China; picking up by 3,865% compared with 2021 figures. Over the period under review, imports saw a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.
In value terms, onion imports skyrocketed to $1.6M in 2022. In general, imports saw a significant increase. As a result, imports attained the peak and are likely to continue growth in the immediate term.
| Import of Onion in China (Thousand USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Myanmar | N/A | N/A | N/A | 1,572 | 0% |
| India | 250 | 18.8 | N/A | 40.8 | -45.4% |
| Thailand | 24.7 | 8.1 | 33.2 | 11.6 | -22.3% |
| South Korea | 211 | N/A | N/A | N/A | 0% |
| Vietnam | 27.2 | N/A | 82.1 | N/A | 73.7% |
| Others | 7.5 | 9.7 | N/A | N/A | 29.3% |
| Total | 520 | 36.6 | 115 | 1,625 | 46.2% |
Top Suppliers of Onion to China in 2022:
- Myanmar (9.8K tons)
- India (0.1K tons)
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