Market

Wholesale onion prices spike on low supplies

Average wholesale onion prices at Lasalgaon, the nation’s largest wholesale onion market, crossed the `3,800 per quintal mark for the primary time this season, the very best within the final six months. Retail onion prices have gone as much as `50 per kg as towards earlier prices of Rs 35-40 per kg in main cities like Delhi and Mumbai because of crop damages attributable to heavy rainfall.

Narendra Wadhavane, secretary, Lasalgaon Agriculture Produce Market Committee (APMC) attributed the rise to the drop in supplies because of the incessant rains that had hit a number of states within the final fortnight. On Wednesday, common wholesale prices at Lasalgaon touched Rs 3,700 per quintal and have been `3,800 per quintal on Tuesday. Last month, prices have been within the vary of Rs 1,450 per quintal similar time.

“The early Kharif crop which was to hit the market on Dusshera has been damaged due to heavy rains and the summer onion stock has been both exhausted and damaged due to rains. It is not possible for farmers to visit the fields which are still in water due to the rains and therefore the arrivals have dropped to some 5,400 per quintals on a daily basis from 15,000 quintals to 20,000 quintals earlier last month,” Wadhavane mentioned. Prices ought to stabilise as soon as the late Kharif crop begins to reach in markets from mid-November, he mentioned.

PK Gupta, director, National Horticultural Research and Development Foundation (NHRDF) termed this as a brief phenomenon. There have been heavy rains in onion rising belts of Karnataka, Andhra Pradesh, Gujarat and Rajasthan inflicting injury to the early Kharif crop, he mentioned. However, the realm beneath onion cultivation has gone up by practically 25% this season and the late Kharif crop appears good in Andhra Pradesh, Karnataka and Telangana. — fe bureau

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