Onion prices down to ₹50-75 per kg in wholesale market; expect respite soon

Onion prices fell sharply by almost 50% at the wholesale Agricultural Produce Market Committee (APMC) market in Vashi. The reduction is expected to reflect in the

Onion prices fell sharply by almost 50% at the wholesale Agricultural Produce Market Committee (APMC) market in Vashi. The reduction is expected to reflect in the retail market prices in a couple of days.

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Onion prices had touched a high of ₹120-130 per kg last week after unseasonal rain damaged new onion crop, leading to lower yields. However, with an increase in arrivals at the market since then, onion was sold in the wholesale market on Tuesday for prices ranging from ₹50 to ₹75 per kg.

Ashok Karpe, a wholesale onion trader at APMC, Vashi, said, “The arrivals have increased greatly in the market with around 140 vehicles arriving today.”

He said the new stock was mostly from Nasik and Gujarat, with some stock from Israel and Kazakhstan. He also said more supply is expected in the next 10 days as onion from other parts of Maharashtra, like Malegaon, are expected along with imports from Afghanistan and other countries.

Wholesale trader Raju Shelke said prices were likely to fall further. “The price reduced a bit on Monday and again today. The price will reduce further in the next few days,” he said.

However, onion prices in the retail market remained between ₹120 per kg to ₹150 per kg.

Rajeev Gupta, a retailer in Vashi, said, “Customers have been buying in small quantities, so we still have stock we had purchased earlier at a high price. We will naturally sell them according to our purchase cost.”

He said retail prices would only be revised once new onion stocks were bought at the lower prices. “It should happen in the next 2 days,” said Gupta.