Comments
Onion prices have improved in the last few days on quality arrivals of the rabi crop and export demand.
“Prices are now ruling above Rs 400 a quintal since the quality of rabi onion is good. Farmers, too, are restricting the release of the produce in the market,” said Mr Rupesh Jaju, Director of Nashik-based United Pacific Agro Pvt Ltd. Mr Jaju's firm exports onions.
Rabi onion generally commands a higher price than the ones produced in kharif due to its longer shelf life. Onion produced in the rabi season can be stored for 5-6 months.
According to Mr Jaju, arrivals totalled 25,700 tonnes in Maharashtra since Monday. About 45 per cent of the arrivals were recorded in Nashik district, while 20 per cent of the arrivals were in Ahmednagar district.
On an average, quality onions were quoted at Rs 518 a quintal, while fair average quality ones ruled at Rs 405. The average price of inferior quality onions was Rs 208.
At the Nashik Agricultural Produce Marketing Committee, the modal price or the rate at which most trades took place on Wednesday was Rs 425. Around the same time last week, modal prices had hit Rs 490.
Export demand is good for countries in the Gulf and Far-East.
“Indonesia has begun buying Indian onions, while the Philippines will begin importing Indian onions in a month's time,” said Mr Jaju.
Prices are likely to rule around this level for the next two weeks. “Thereafter, they could rise marginally by Rs 15-20 a quintal,” said Mr Jaju.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.