Wholesale onion prices fall, but retail still high
Retail onion prices continue to make consumers cry, despite an increase in supply and decline in prices in the state’s major wholesale markets.mumbai Updated: Oct 29, 2013 09:33 IST
Retail onion prices continue to make consumers cry, despite an increase in supply and decline in prices in the state’s major wholesale markets.
On Monday, onions sold for Rs60 to Rs80 a kg in Mumbai.
Fresh onion stock also started arriving in the state’s wholesale markets, and if the supply continues, retail prices could fall in a week or so.
On Monday, onion prices at India’s biggest market at the Lasalgaon Agricultural Produce Market Committee (APMC) in Nashik, fell from Rs56 a kg on Friday to Rs47 a kg. The supply also improved from 100 to 160 quintals.
The Nashik district too registered a more than 3,000 quintal increase in supply.
The average cost fell to Rs5,000 a quintal, compared with Rs6,000 a quintal last week.
In neighbouring Pimpalgaon APMC, the supply of fresh onions increased from 3,165 quintals to 4,850 quintals on Monday, but the prices reduces narrowly, from Rs42 per kg to Rs39.50 per kg.
Traders said it takes two to four days for the wholesale stock to reach Mumbai from these regions, so differences in retail rates will show only by the end of this week, or early next week.
“The fresh supply of onion has also started entering the markets now. When this improves, the prices will stabilise. If climatic conditions remain favourable and supply continues, onion prices may reduce to Rs2,500 per quintal in wholesale market by next week,” said Nanasaheb Paitl, chairman, APMC Lasalgaon.
But closer home, traders from APMC Vashi said there was no change in prices or supply.
“The onions prices are still Rs40 a kg for the fresh crop, and Rs60-65 a kg for old stock. The prices are likely to reduce post Diwali,” said Sanjay Pinglay, an onion trader at APMC Vashi.