The slump in onion prices, which have fallen by almost 50% in the past one week, has left traders and farmers worried.
The vegetable, which was selling for Rs10-12 per kg last week, has now dropped to Rs6.5-Rs7.5 per kg in the wholesale Agriculture Produce Marlet (APMC) in Vashi. This huge decline has upset traders and farmers, who blame the government’s export policy.
This time last year onion prices had skyrocketed to Rs65 per kg in the wholesale market, and Rs100 per kg in the retail market, compelling the government to ban export of onions.
This year too, an export ban had been imposed in September and lifted later in the year.
Ashok Karpe, a wholesale trader said: “Due to inadequate rainfall in onion-producing areas such as Nashik, the quality of the crop is poor and demand is less.”
The situation spells trouble for farmers as well, who are struggling to recover costs. “I have a truck full of onions, but I am not getting the right price,” said Vasant Bedse, a farmer from Sangamner.