Onion Price in the United States - 2024
Contents:
- Onion Price in the United States (CIF) - 2024
- Onion Price in the United States (FOB) - 2024
- Onion Imports in the United States
- Onion Exports in the United States
Onion Price in the United States (CIF) - 2024
The average onion import price stood at $1,011 per ton in April 2024, reducing by -6.8% against the previous month. In general, the import price, however, continues to indicate a measured expansion. The most prominent rate of growth was recorded in August 2023 when the average import price increased by 215% month-to-month. Over the period under review, average import prices hit record highs at $1,108 per ton in December 2023; however, from January 2024 to April 2024, import prices failed to regain momentum.
Prices varied noticeably by the country of origin: the country with the highest price was Chile ($1,098 per ton), while the price for Canada ($275 per ton) was amongst the lowest.
From April 2023 to April 2024, the most notable rate of growth in terms of prices was attained by Mexico (+3.3%), while the prices for the other major suppliers experienced mixed trend patterns.
Onion Price in the United States (FOB) - 2024
In April 2024, the average onion export price amounted to $1,269 per ton, rising by 2.4% against the previous month. Over the period under review, export price indicated perceptible growth from April 2023 to April 2024: its price increased at an average monthly rate of +3.0% over the last twelve months. The trend pattern, however, indicated some noticeable fluctuations being recorded throughout the analyzed period. Based on April 2024 figures, onion export price increased by +63.8% against August 2023 indices. The most prominent rate of growth was recorded in January 2024 when the average export price increased by 18% against the previous month. Over the period under review, the average export prices reached the peak figure in April 2024.
Prices varied noticeably by the country of destination: the country with the highest price was Canada ($1,303 per ton), while the average price for exports to Mexico totaled $623 per ton.
From April 2023 to April 2024, the most notable rate of growth in terms of prices was recorded for supplies to Taiwan (Chinese) (+23.6%), while the prices for the other major destinations experienced more modest paces of growth.
Onion Imports in the United States
After three years of growth, supplies from abroad of onions (dry) decreased by -0.6% to 660K tons in 2022. The total import volume increased at an average annual rate of +6.7% over the period from 2019 to 2022; the trend pattern remained relatively stable, with somewhat noticeable fluctuations throughout the analyzed period. The pace of growth appeared the most rapid in 2021 with an increase of 19% against the previous year. As a result, imports attained the peak of 664K tons, leveling off in the following year.
In value terms, onion imports expanded remarkably to $526M in 2022. The total import value increased at an average annual rate of +4.7% over the period from 2019 to 2022; the trend pattern remained relatively stable, with only minor fluctuations being recorded in certain years. The most prominent rate of growth was recorded in 2021 with an increase of 13%. Imports peaked in 2022 and are expected to retain growth in years to come.
| Import of Onion in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Mexico | 319 | 328 | 363 | 357 | 3.8% |
| Canada | 42.0 | 40.5 | 51.0 | 78.4 | 23.1% |
| Peru | 80.0 | 63.9 | 65.8 | 67.9 | -5.3% |
| Others | 18.0 | 11.2 | 21.6 | 23.0 | 8.5% |
| Total | 459 | 444 | 501 | 526 | 4.6% |
Top Suppliers of Onion to the United States in 2022:
- Mexico (386.9K tons)
- Peru (164.7K tons)
- Canada (84.3K tons)
Onion Exports in the United States
For the third year in a row, the United States recorded decline in overseas shipments of onions (dry), which decreased by -7.1% to 322K tons in 2022. In general, exports recorded a abrupt curtailment. The smallest decline of -5.4% was in 2021.
In value terms, onion exports skyrocketed to $328M in 2022. The total export value increased at an average annual rate of +4.5% from 2019 to 2022; the trend pattern indicated some noticeable fluctuations being recorded in certain years. As a result, the exports attained the peak and are likely to continue growth in the immediate term.
| Export of Onion in the United States (Million USD) | |||||
|---|---|---|---|---|---|
| COUNTRY | 2019 | 2020 | 2021 | 2022 | CAGR, 2019-2022 |
| Canada | 183 | 164 | 192 | 250 | 11.0% |
| Mexico | 63.3 | 58.6 | 37.8 | 52.8 | -5.9% |
| Taiwan (Chinese) | 7.4 | 6.1 | 6.7 | 2.9 | -26.8% |
| Panama | 7.7 | 4.1 | 3.6 | 2.5 | -31.3% |
| Others | 26.5 | 18.0 | 24.6 | 20.3 | -8.5% |
| Total | 288 | 251 | 265 | 328 | 4.4% |
Top Export Markets for Onion from the United States in 2022:
- Canada (221.7K tons)
- Mexico (76.1K tons)
- Taiwan (Chinese) (4.9K tons)
- Panama (3.6K tons)
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