Know (price of) your onions: ₹75/kg in city’s retail market

With unseasonal rain damaging crops, prices of onions are soaring across Maharashtra. It touched ₹4,000-₹4,500 for a quintal in the wholesale market on Wednesday,

With unseasonal rain damaging crops, prices of onions are soaring across Maharashtra. It touched ₹4,000-₹4,500 for a quintal in the wholesale market on Wednesday, while in cities like Mumbai it was around ₹75/kg in the retail market. The wholesale price on Wednesday for the old stock was ₹55-60/kg. In the retail market in Vashi, onion was being sold for ₹80/kg.

HT Image

Last week, onion was being sold for ₹45/kg. Experts said there was a dip in the amount of stock reaching the wholesale market, which resulted in the rise, and the prices may go up further if the shortage continues.

Jaydutt Holkar, chairman, Agricultural Produce Market Committee (APMC), Lasalgaon, the country’s largest wholesale market, said the onion prices rose by ₹400-500 for a quintal in the past one week. “The inflow of the onion stock in the market has reduced to 2,000-2500 quintals from 15,000 quintals, which is the reason behind the rise,” Holkar said.

He said the downpour also affected the quality of the crop and if rain continues, the market will face more shortage, which will ultimately impact the prices. Ashok Karpe, a wholesale trader, said, “The prices have risen as the new stock is of poor quality. The old stock is commanding a high price. If the rain stops, more new stock will enter the market, which will bring down the prices over 15 days.”