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Onion prices declined below Rs 30 per kg at Lasalgoan in Maharasthra, Asia’s largest wholesale market for the bulb crop, after the Government banned export and imposed stock limit on traders.
The maximum wholesale rate of onion at Lasalgoan in Nasik district has declined from the peak of Rs 51 per kg during mid-September, according to data maintained by the National Horticultural Research and Development Foundation (NHRDF).
Lasalgoan mandi sets the price trend for onion across the country. Any fluctuation in this market reflects in onion prices in other parts of the country.
The average wholesale price of onion was Rs 26 per kg on Thursday at the Lasalgaon Agriculture Produce Market Committee, while the maximum rate was Rs 30.20 per kg and minimum rate Rs 15 per kg.
Read: Onion prices at a four-year high. Why?
Onion prices have been on the rise since August, as floods in key growing states, Maharasthra and Karnataka, disrupted supplies. The likely fall in area sown to kharif onion further put pressure on prices.
Stored onion from the rabi crop of last year is now being sold in the market. The fresh kharif crop is expected to hit the market from November onwards.
Onions prices at Rs 60-70 per kg
Since onion has been a politically sensitive crop, the Government has taken several measures to boost the supply in the domestic market and contain price rise in retail markets. Lately, onion prices shot up to Rs 60-70 per kg in the national capital and other parts of the country.
Also read: Know your onions
To give relief to consumers in Delhi and NCR, cooperatives National Agricultural Cooperative Marketing Federation of India (Nafed), National Cooperative Consumers’ Federation (NCCF), as well as State-run Mother Dairy are selling the buffer onion at a cheaper rate of Rs 23.90 per kg.
Other state Governments have also been offered buffer stock onion maintained by the central Government.
Last week, the Government banned the export of onion and imposed stock limit on traders.
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