Indore: Onion prices may go down, say traders
With the arrival of new crops in Madhya Pradesh and Maharashtra, prices of onions and potatoes have come down in wholesale markets. However, retail prices are still higher than the lows in summer.Updated: Dec 17, 2014 15:41 IST
With the arrival of new crops in Madhya Pradesh and Maharashtra, prices of onions and potatoes have come down in wholesale markets. However, retail prices are still higher than the lows in summer, and traders expect the prices to come down further.
In June, onion prices were ruling at Rs 12-15 per kg and subsequently started moving up, with the prices peaking in September at Rs 40 per kg. At present, good quality onions are available for Rs 20-22 per kg in the retail markets.
"With new crop arriving in the mandis, prices of good quality onions have come down to Rs 700 per crate (40 kg) and that of low quality are trading at Rs 300-350 per crate," wholesale trader Vinod Kumar told HT. The prices are expected to come down further, he said.
At present, onions arriving in the market comprise both summer stock and fresh kharif crop, say traders. This year, the kharif onions, which arrive by mid-September every year, were delayed by two months due to delay in arrival of monsoon. At present, only 60% of total arrival is of fresh kharif crop.
Unseasonal rains in summer coupled with the weak start of the monsoon season had destroyed a portion of crop in Maharashtra and lead to scarcity.
On top of that, the prices of seeds had shot up as there was some scarcity in the market. Prices of the potatoes have also come down to Rs 24 per kg from Rs 35 per kg but are ruling higher than Rs 20 per kg levels in summer.
First Published: Dec 17, 2014 13:42 IST