Onion prices set to rise within a fortnight
Traders at the wholesale Agriculture Produce Market Committee (APMC) market in Navi Mumbai say onion prices are set to almost double in the next fortnight, reports G Mohiuddin Jeddy.india Updated: Nov 08, 2006 22:23 IST
Get ready for some costly tears. Traders at the wholesale Agriculture Produce Market Committee (APMC) market in Navi Mumbai say that the onion prices which have been fluctuating in the past few days are set to almost double in the next fortnight. The intermittent rains in the last week in several regions of the state are said to have damaged the onion crop.
Onion prices, which had been hovering around Rs 60 to Rs 70 per 10 kg just 10 days back, are currently fluctuating between Rs 50 and Rs 80 per 10 kg. Says Ashok Walunj, APMC director and a leading trader, "Hardly 20%-25% of the crop that is coming is of good quality and hence the fluctuation in prices. There is a lot of panic selling to get rid of the sub-standard quality of onion. The good quality onions are fetching better prices."
Warning that the days ahead could be tough for housewives, Walunj said, "The farmers have told us that their crops were destroyed during the 2-3 days of rains in the last 10 days. Obviously, the supply position is going to be affected within the next fortnight. We are expecting prices to range between Rs 100 per 10 kg to Rs 150 per 10 kg then."
As for the potatoes, traders say that the commodity market transactions have led to a rise in its prices from Rs 70-Rs 90 per 10 kg around 10 days back to Rs 100-Rs 120 per 10 kg now.