Onion prices declined this week as the quality of the arrivals was low, leading to lack of buying interest in markets around growing areas in Maharashtra.
SHELF LIFE ENDING
“Growers are brining low quality or damaged stocks to markets. The onion stocks are nearing the end of their shelf life and, hence, the problem in quality,” said Rupesh Jaju, Director of Nashik-based United Pacific Agro Pvt Ltd that exports onion.
Prices ranged between Rs 350 and Rs 600 in most places but ruled higher in Ahmednagar district of Maharashtra.
At Lasalgaon Agricultural Produce Marketing Committee yard, Asia’s biggest yard for onion, the modal price or the rate at which most trades took place was Rs 530 a quintal, down from Rs 624 last week.
Arrivals throughout this week were below 1,850 tonnes daily against over 2,000 tonnes last week.
“Overall, there is no demand due to end of season arrivals. As a result, even exporters, particularly to the Gulf, are uninterested,” said Jaju.
In the domestic markets, buyers from Kolkata were absent since there was a lack of demand from Bangladesh.
Prices are unlikely to rise for another fortnight in view of poor quality of arrivals.
Meanwhile, the early kharif onion is expected to be a fair one, though arrivals will be late.
Recent rain in the growing areas would help the crop.