Agri Business

Onion prices on rise, touches ₹4,200 per quintal

P. Manoj |Rahul Wadke | | Updated on: Sep 23, 2019
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The onion prices across the country have started rising in spite of stable supply to the Lasalgaon onion market in Maharashtra. The wholesale market is the bell-weather for the precious commodity across the country. Supply disruptions in Kurnool, Andhara Pradesh and decline in supply from Madhya Pradesh has also lead to the price rally in the wholesale and retail market. The prices are expected to stabilize in a month when the new crop arrives in markets in Nashik and other onion producing districts in Maharashtra.

In the last one month, the modal price of onions has increased by 82 per cent in Lasalgaon. On August 23 the modal price per quintal was ₹2,251, which increased to ₹4,100. Today, in the course of trading the price touched a high of ₹4,200 per quintal.

Chairman of Lasalgaon APMC, Jaydutt Holkar told BusinessLine in the last 60 days the supply to Lasalgaon market has been stable at about five lakh quintals. In the comparable period of 2018, the same volume of supply arrived in the market. However, the supply constraints in Kurnool due to the floods affected the supply of red onions across the country. It has to lead to the increase in demand for Nashik red onions, “Lasalgaon moves other onion markets in the country, he said.

In Mumbai’s retail market the prices have steeply increased to ₹60 per kg, which has upset the household budgets.

Read | Onion prices surge to ₹70-80/kg

Published on September 23, 2019

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