Procurement Resource

  During the first and second quarters of 2023, onion prices surged worldwide, straining consumer budgets in countries like the Philippines and across Asia, where onion costs even outpaced those of meat by 25-50%. Surprisingly, demand for onions remained strong due to their status as a global food staple. Request for Real-Time Onion Prices: https://www.procurementresource.com/resource-center/onion-price-trends/pricerequest The price hike was fueled by factors such as global inflation, extreme weather conditions including heatwaves and hailstorms, and supply chain disruptions resulting from the Russia-Ukraine conflict. Inflationary pressures, stemming from a weakened global economy, compelled traders, manufacturers, and banks to raise prices to sustain market operations, further contributing to the onion price increase. Definition Onions are edible bulbous vegetables belonging to the Allium genus, which includes garlic and leeks. They are prized for their distinctive, pungent flavor...