Wholesale prices drop by Rs 10, no change in retail yet
There was no respite for the common man as the retailers continued to sell for them for Rs70-80 per kg in Mumbai and neighbouring cities.mumbai Updated: Aug 14, 2013 09:02 IST
Onion prices, which had risen to Rs55-62 per kg in the wholesale market, dropped by around Rs10 on Tuesday.
However, there was no respite for the common man as the retailers continued to sell for them for Rs70-80 per kg in Mumbai and neighbouring cities.
Sanjoy Ghogre, who shops at Fort market, said the rates were between Rs60 and Rs70 per kg, depending on the quality of the onions.
Varsh Jatap, a housewife, said that the price of onion had soared from Rs47 per kg to Rs60 at Kalachowki retail market from Rs47 per kg a day ago.
Supplies of onions continued to be low at the wholesale Agriculture Produce Market Committee ( APMC) onion market but the price did drop marginally.
“There are few takers for the produce at the high price on Monday. The retailers have not been buying in adequate quantity. Hence the rates came down to Rs 45-55 today,” said Ashok Karpe, an onion wholesaler
“We are expecting the prices to fluctuate in this manner in the coming days. No one knows what turn the market will take as the stocks continue to reduce and the new stock will come only after 2 months,” he added.
Though prices came down by 11% to 18% in the wholesale market, the retailers did not pass on the benefit to the customers.
They continued to sell at the hiked rate of Monday and even increased it in some cases.