Onion prices at all-time high of ₹7.9K per quintal at Lasalgaon

Onion prices shot up to an all-time high at Lasalgaon in Maharashtra, India’s largest onion market, on November 29. The average price of onions has reached ₹7,990

Onion prices shot up to an all-time high at Lasalgaon in Maharashtra, India’s largest onion market, on November 29. The average price of onions has reached ₹7,990 per quintal.

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Lasalgaon onion mandi in Nashik is considered the most important market in the country for onions, and it is known to supply table onion all over the country.

Lasalgaon sets the price trend for onions, for the entire country.

According to the Agricultural Produce Market Committee (APMC), Lasalgaon, ₹7,990 per quintal was the highest rate for onions in APMC’s 72-year history.

Previously, the all-time high for onion prices was ₹6,300 per quintal in October 2015.

APMC Lasalgaon was established on April 1, 1947.

The price of onions has almost doubled since November 1 this year, when the rate was recorded at ₹3,101 per quintal at Lasalgaon. On November 25, onion prices crossed the ₹7,000 per quintal mark.

According to an APMC official, the average price of onions increased because the supply of early kharif onion crops was hit badly by unseasonal rain.

“Onions could bring more tears to consumers till January-end as prices are likely to hit new highs with the crop sown in kharif season being impacted by unseasonal rain,” said Suvarna Jagtap, chairperson of APMC, Lasalgaon.

Prices are expected to stabilise by the end of January when late onion crops would start to arrive in the market, Jagtap added.

Generally, early kharif onion becomes available in markets between October and November. But this year, the onion harvesting season was affected by unseasonal rain. At the same time, storage of previous year’s onion harvest would be finishing, which leads to rise in onion prices.

Narendra Vadhavane, an official at APMC Lasalgaon, said that as of now, APMC Lasalgaon has recorded an average arrival of only 3,100-3,500 quintal of onion on a daily basis.

In the same month last year, the APMC had recorded the arrival of 10,000-12,000 quintal of onion daily, on an average.