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Prices of onion across major markets in the country saw a dip, a month after onion prices went through the roof.
At the Lasalgaon market in Maharashtra, the biggest for the commodity in the country, prices fell as much as 45 per cent over the last week.
Wholesale prices of red onion stood at Rs 1,352 a quintal, while last week the prices were Rs 2,553.
An onion trader from Navi Mumbai, Mr Kiran Zodge, told Business Line that due to new arrivals in the market, the prices have fallen. New onions are being sold at Rs 25-28 a kg, while old onions continue to fetch Rs 40-45 a kg.
At the market late last week, prices hovered at around Rs 2,700 a quintal, but due to fresh arrivals, the price started falling, and by Monday, it dropped to Rs 1,400.
The Government has been facing the heat because of high onion prices, and tried to cool off prices by importing onion from Taiwan, China and Pakistan, but, by the time it reached retailers, it started rotting.
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