Onion: Shortage Forces Price Up

Businessmen in Panama report that before the country began to scarce produce, the 50-pound sack cost between $25 and $35, but is currently priced at $66.

Monday, July 29, 2019

At the beginning of July, it was reported that because of the shortage of the product in the local market, the import of 80,000 quintals of onion was authorized between July and September of this year.

Domingo de Obaldía, president of the Restaurants and Allied Association of Panama, explained to Panamaamerica.com.pa that "... it is difficult to get onion because prices are exorbitant. A few weeks ago the 50 pound sack cost 150 dollars, then dropped to $77 and is now at 66 dollars in the Supply Market. Before the shortage was reported, the price of the onion sack ranged from $25 to $35."

Obaldía added that "... We hope that the contingent of 60,000 quintals of U.S. onion that will enter Panama may lower the cost slightly. This is a useless situation and for the first time we are going to bring in a contingent that does not overlap at harvest time."

As stipulated by the authorities, to supply the Panamanian market, a first part of 20,000 quintals of onion will be imported by the Agricultural Marketing Institute (IMA) before the end of July, because of the notorious urgency. It will be sold to the Cooperativa de Comercializadores de Alimentos de Panamá (COOSEMUPA) R.L.. The other part, 60 thousand quintals of onions, must be imported during the period from August 1 to September 30 of this year, applying the performance requirement, participating only traders who bought domestic production.

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More on this topic

Potato: Low Prices for Overproduction

August 2019

Producers in Panama report that the wholesale price of potato quintal is $30, which is attributed to the excess supply in the country.

According to businessmen's estimates, consumption per month in the local market is about 50,000 quintals of potato, and it is expected that in August production in the country will rise to 75,000 quintals and in September to 55,000 quintals.

Agreement to Import Onions

July 2019

Because of a local reported shortage of the product, Panamanian authorities informed that they have agreed to authorize the import of 60,000 quintals of onion, which will enter the country during July and August.

The decision was taken at the extraordinary session of the Potato and Onion Agrifood Chain Commission.

Panama to Import Onions

July 2017

Due to a shortage of the product in the local market, authorization has been granted for the import of 80 thousand hundredweight of onions between July and September of this year.

From a statement issued by the Ministry of Agricultural Development:

Panama: Onion Import Suspended

October 2011

Administrative delays by the government have forced producers to change the decision to import 40 quintals to ensure supplies of onions for November and December.

The agreement that had been reached by producers and the government has been suspended, as producers argue that due to delays in the importation authorization process, entry of the imported onions would coincide with local harvest and would therefore lower prices.

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