Greece: Dried Onion Market 2024

Dried Onion Market Size in Greece

The Greek dried onion market fell notably to $X in 2021, which is down by -69.3% against the previous year. This figure reflects the total revenues of producers and importers (excluding logistics costs, retail marketing costs, and retailers' margins, which will be included in the final consumer price). In general, consumption showed a pronounced decline. Dried onion consumption peaked at $X in 2015; however, from 2016 to 2021, consumption stood at a somewhat lower figure.

Dried Onion Exports

Exports from Greece

In 2021, the amount of dried onions exported from Greece skyrocketed to X tons, rising by 293% against the previous year. Over the period under review, exports showed buoyant growth. The most prominent rate of growth was recorded in 2019 with an increase of 579% against the previous year. As a result, the exports attained the peak of X tons. From 2020 to 2021, the growth of the exports remained at a lower figure.

In value terms, dried onion exports expanded remarkably to $X in 2021. In general, exports continue to indicate a relatively flat trend pattern. The pace of growth was the most pronounced in 2019 with an increase of 599% against the previous year. As a result, the exports reached the peak of $X. From 2020 to 2021, the growth of the exports failed to regain momentum.

Exports by Country

Romania (X tons) was the main destination for dried onion exports from Greece, accounting for a 79% share of total exports. Moreover, dried onion exports to Romania exceeded the volume sent to the second major destination, Bulgaria (X tons), ninefold. The third position in this ranking was held by Kosovo (X tons), with a 6.1% share.

From 2012 to 2021, the average annual rate of growth in terms of volume to Romania stood at +113.3%. Exports to the other major destinations recorded the following average annual rates of exports growth: Bulgaria (+11.7% per year) and Kosovo (+332.5% per year).

In value terms, the largest markets for dried onion exported from Greece were Romania ($X), Bulgaria ($X) and Cyprus ($X), together comprising 92% of total exports. These countries were followed by Kosovo, which accounted for a further 4.7%.

Kosovo, with a CAGR of +159.4%, saw the highest rates of growth with regard to the value of exports, among the main countries of destination over the period under review, while shipments for the other leaders experienced mixed trend patterns.

Export Prices by Country

In 2021, the average dried onion export price amounted to $X per ton, shrinking by -71.1% against the previous year. Over the period under review, the export price continues to indicate a abrupt decline. The most prominent rate of growth was recorded in 2014 an increase of 81% against the previous year. Over the period under review, the average export prices hit record highs at $X per ton in 2015; however, from 2016 to 2021, the export prices failed to regain momentum.

There were significant differences in the average prices for the major foreign markets. In 2021, the country with the highest price was Cyprus ($X per ton), while the average price for exports to Romania ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was recorded for supplies to Montenegro (+10.7%), while the prices for the other major destinations experienced more modest paces of growth.

Dried Onion Imports

Imports into Greece

Dried onion imports into Greece fell rapidly to X tons in 2021, waning by -27.2% against the previous year. Over the period under review, imports, however, saw a perceptible increase. The pace of growth was the most pronounced in 2015 when imports increased by 452% against the previous year. As a result, imports attained the peak of X tons. From 2016 to 2021, the growth of imports remained at a lower figure.

In value terms, dried onion imports fell modestly to $X in 2021. Overall, imports, however, showed a resilient expansion. The most prominent rate of growth was recorded in 2015 when imports increased by 121% against the previous year. As a result, imports reached the peak of $X. From 2016 to 2021, the growth of imports failed to regain momentum.

Imports by Country

In 2021, India (X tons) constituted the largest dried onion supplier to Greece, with a 51% share of total imports. Moreover, dried onion imports from India exceeded the figures recorded by the second-largest supplier, Poland (X tons), threefold. France (X tons) ranked third in terms of total imports with a 7.7% share.

From 2012 to 2021, the average annual growth rate of volume from India amounted to +11.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+77.1% per year) and France (+13.1% per year).

In value terms, India ($X) constituted the largest supplier of dried onion to Greece, comprising 61% of total imports. The second position in the ranking was held by Poland ($X), with a 9.9% share of total imports. It was followed by Germany, with a 6.7% share.

From 2012 to 2021, the average annual rate of growth in terms of value from India totaled +14.6%. The remaining supplying countries recorded the following average annual rates of imports growth: Poland (+59.9% per year) and Germany (-1.3% per year).

Import Prices by Country

The average dried onion import price stood at $X per ton in 2021, picking up by 33% against the previous year. Overall, the import price saw resilient growth. The growth pace was the most rapid in 2016 when the average import price increased by 135% against the previous year. Over the period under review, average import prices reached the maximum in 2021 and is likely to see gradual growth in the immediate term.

There were significant differences in the average prices amongst the major supplying countries. In 2021, the country with the highest price was Germany ($X per ton), while the price for France ($X per ton) was amongst the lowest.

From 2012 to 2021, the most notable rate of growth in terms of prices was attained by Austria (+27.3%), while the prices for the other major suppliers experienced more modest paces of growth.

Source: IndexBox Platform

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