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Lower arrivals, following rains in Maharashtra and renewed export demand, lifted onion prices in markets near growing centres in the western State and Gujarat.
“Onion prices have begun to stabilise. The growing regions have received a little bit of rains as a result of which arrivals were lower,” said Mr Rupesh Jaju, Director of Nashik-based United Pacific Agro Pvt Ltd.
Arrivals
Arrivals in most markets ranged between 400 and 600 tonnes throughout this week, though they increased towards the week-end. On Friday, Pune received over 700 tonnes of onions.
Prices at Maharashtra's Lasalgaon Agricultural Produce Marketing Committee yard, Asia's biggest onion market, ruled between Rs 300 and Rs 900 a quintal. The modal price or the rate at which most trades took place was Rs 801.
In Pune, the maximum price touched Rs 1,000 a quintal and the modal price increased to Rs 850.
“There is good demand for export to West Asia, Far-East and, even to some parts of Europe. But farmers are not bringing ample quantities to the market. Besides, monsoon has affected movement of ship,” Mr Jaju said.
Prices are likely to gain further in the fortnight ahead. “Onion may gain Rs 200 a quintal in two weeks time, given the higher demand and lower arrivals,” said Mr Jaju.
Since the beginning of June, onion prices have surged Rs 275 a quintal.
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