Onion prices continue to soar; hit ₹60/kg mark in city

Onion prices continue to soar across Maharashtra, with the quintal mark in the wholesale market reaching ₹4,000 on Tuesday. In Mumbai, the vegetable costs ₹60 per

Onion prices continue to soar across Maharashtra, with the quintal mark in the wholesale market reaching ₹4,000 on Tuesday. In Mumbai, the vegetable costs ₹60 per kg in the retail market. The price has tripled since July 31 this year, when the rate was ₹1,250 per quintal at Lasalgaon, the country’s largest wholesale market.

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“On Tuesday, the wholesale prices of onion reached ₹4,000 per quintal. At the same time last year, the price per quintal was ₹500,” said Jaydutt Holkar, chairman, APMC, Lasalgaon. At the Agricultural Produce Market Committee (APMC) market in Vashi, wholesale prices dropped by around ₹2, to ₹40 per kg, on Tuesday.

Experts believe that onion prices will come down only after a month, when fresh crop arrives in the market.

Holkar said that there is no shortage of onion in Maharashtra. However, states like Andhra Pradesh and Madhya Pradesh are facing a shortfall, which has led to the rise of prices.

To curb prices, the Metals and Minerals Trading Corporation (MMTC), a subsidiary of the Centre, has already floated a tender to import onions from China, Afghanistan, and Egypt, with stock expected to arrive by the last week of November. Recently, the Directorate General of Foreign Trade (DGFT) fixed a minimum export price (MEP) of US$850 (around ₹60,241) for one tonne of onions. The decision was taken following a surge in onion prices.

“Both the moves are unwarranted, as onion prices will start reducing with the arrival of a fresh crop after a month. The imported onions will come only after November and by that time, the price of local produce will have already come down,” Holkar said. Anoop Kumar, principal secretary, state marketing department, said they are still assessing the situation and will then decide on measures to curb onion prices.