Onion Price in India - 2024
Contents:
- Onion Price in India (FOB) - 2024
- Onion Price in India (CIF) - 2023
- Onion Exports in India
- Onion Imports in India
Onion Price in India (FOB) - 2024
The average onion export price stood at $566 per ton in March 2024, surging by 10% against the previous month. In general, the export price recorded a resilient increase. The most prominent rate of growth was recorded in November 2023 an increase of 215% against the previous month. Over the period under review, the average export prices attained the maximum at $798 per ton in December 2023; however, from January 2024 to March 2024, the export prices failed to regain momentum.
There were significant differences in the average prices for the major foreign markets. In March 2024, the country with the highest price was Oman ($1,294 per ton), while the average price for exports to Sri Lanka ($441 per ton) was amongst the lowest.
From March 2023 to March 2024, the most notable rate of growth in terms of prices was recorded for supplies to Bangladesh (+19.6%), while the prices for the other major destinations experienced more modest paces of growth.
Onion Price in India (CIF) - 2023
In December 2023, the average onion import price amounted to $426 per ton, waning by -17.3% against the previous month. Over the period under review, the import price recorded a deep setback. The most prominent rate of growth was recorded in October 2023 when the average import price increased by 0.7% against the previous month. Over the period under review, average import prices attained the peak figure at $523 per ton in August 2023; however, from September 2023 to December 2023, import prices stood at a somewhat lower figure.
Prices varied noticeably by the country of origin: the country with the highest price was Afghanistan ($570 per ton), while the price for Iran amounted to $315 per ton.
From August 2023 to December 2023, the most notable rate of growth in terms of prices was attained by Afghanistan (+2.2%).
Onion Exports in India
In 2022, overseas shipments of onions (dry) were finally on the rise to reach 2.1M tons after two years of decline. Over the period under review, total exports indicated buoyant growth from 2019 to 2022: its volume increased at an average annual rate of +13.3% over the last three years. The trend pattern, however, 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 skyrocketed to $525M in 2022. Overall, total exports indicated buoyant growth from 2019 to 2022: its value increased at an average annual rate of +12.6% over the last three-year period. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on 2022 figures, exports increased by +51.3% against 2020 indices. The most prominent rate of growth was recorded in 2021 when exports increased by 30%. Over the period under review, the exports reached the peak figure in 2022 and are expected to retain growth in years to come.
| Export of Onion in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Bangladesh | 65.5 | 92.9 | 142 | 139 | 28.5% |
| Malaysia | 68.8 | 57.6 | 68.1 | 101 | 13.7% |
| United Arab Emirates | 51.3 | 41.2 | 42.3 | 68.7 | 10.2% |
| Sri Lanka | 44.6 | 42.3 | 59.8 | 57.8 | 9.0% |
| Nepal | 15.5 | 13.5 | 37.1 | 34.3 | 30.3% |
| Indonesia | 8.7 | 13.0 | 12.4 | 24.2 | 40.6% |
| Qatar | 14.0 | 12.4 | 10.2 | 18.0 | 8.7% |
| Vietnam | 10.9 | 5.5 | 6.2 | 15.0 | 11.2% |
| Oman | 12.7 | 11.1 | 4.8 | 12.3 | -1.1% |
| Kuwait | 13.3 | 10.6 | 8.6 | 9.7 | -10.0% |
| Saudi Arabia | 17.7 | 13.5 | 5.3 | 6.3 | -29.1% |
| Others | 44.3 | 33.1 | 52.7 | 38.2 | -4.8% |
| Total | 367 | 347 | 449 | 525 | 12.7% |
Top Export Markets for Onion from India in 2022:
- Bangladesh (697.3K tons)
- Malaysia (331.4K tons)
- United Arab Emirates (257.9K tons)
- Sri Lanka (241.1K tons)
- Nepal (167.3K tons)
- Indonesia (94.1K tons)
- Qatar (63.8K tons)
- Vietnam (58.6K tons)
- Oman (45.7K tons)
- Kuwait (34.6K tons)
- Saudi Arabia (21.7K tons)
Onion Imports in India
In 2022, purchases abroad of onions (dry) decreased by -94.1% to 1.6K tons, falling for the second consecutive year after two years of growth. Overall, imports continue to indicate a dramatic descent. The pace of growth appeared the most rapid in 2020 when imports increased by 72% against the previous year. As a result, imports attained the peak of 131K tons. From 2021 to 2022, the growth of imports remained at a lower figure.
In value terms, onion imports declined markedly to $813K in 2022. Over the period under review, imports recorded a precipitous decline. The pace of growth was the most pronounced in 2020 with an increase of 70%. As a result, imports reached the peak of $68M. From 2021 to 2022, the growth of imports remained at a somewhat lower figure.
| Import of Onion in India (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Turkey | 5.4 | 19.4 | 0.2 | 0.3 | -61.8% |
| Egypt | 5.2 | 16.4 | 0.7 | 0.3 | -61.4% |
| United Arab Emirates | 4.7 | 5.1 | 1.1 | 0.1 | -72.3% |
| Iran | 0.2 | 2.3 | 0.2 | N/A | 0.0% |
| Netherlands | 0.2 | 2.3 | N/A | N/A | 1050.0% |
| Afghanistan | 23.7 | 21.3 | 11.5 | N/A | -30.3% |
| Others | 0.6 | 0.9 | 0.2 | N/A | -42.3% |
| Total | 39.8 | 67.7 | 13.9 | 0.8 | -72.8% |
Top Suppliers of Onion to India in 2022:
- Egypt (591.4 tons)
- Turkey (561.0 tons)
- United Arab Emirates (256.9 tons)
- Iran (104.8 tons)
- Afghanistan (69.2 tons)
- Netherlands (58.9 tons)
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