Bumper stock has onion wholesale rate down to Rs 7/kg | punjab$chandigarh | Hindustan Times
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Bumper stock has onion wholesale rate down to Rs 7/kg

punjab Updated: May 27, 2016 12:13 IST
HT Correspondent
Bumper stock

“Unlike last year, market is down this year. The wholesale rate of onion is Rs 6-7 per kilogram and for top quality onion, the price is Rs 8 per kilogram,” said Balbir Singh, chairman, Sabji Mandi Aarthiya Association.(HT File Photo)

The wholesale price of onion has come down to Rs 6-7 per kilogram, attributed to bumper produce of bulb in Maharashtra and other states, which has started coming at city’s grain market in Sector 26.

The Sector 26 grain market receives onion from Punjab, Haryana and major stock from Rajasthan, Maharashtra, Madhya Pradesh, among other states. “Unlike last year, market is down this year. The wholesale rate of onion is Rs 6-7 per kilogram and for top quality onion, the price is Rs 8 per kilogram,” said Balbir Singh, chairman, Sabji Mandi Aarthiya Association, Sector 26. He added, “Customers are expecting that prices will fall, hence no big orders are being placed.”

Deepak, a retailer at the grain market, Sector 26, said, “The prices of onion have started coming down due to the bumper crop. Supply is more than the demand and it has started impacting the rates.”Farmers were seen selling onions directly in the sectors.

However, KVS Sidhu, a farmer said the prices are not so low, as depicted by traders. “The prices have not crashed. A week ago, I have sold my crop of medium quality at Rs 9.5 per kilogram.” “Traders are exploiting the farmers by creating panic,” he said.

Sidhu added, “Onion farmers, who have information about the market and can afford cold-storage, will not sell their produce now and will sell it after a month when rates will improve.”