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Onion prices today rose more than two-fold to Rs 25/kg at Lasalgaon in Maharashtra, Asia’s largest wholesale market for bulb crop, due to tight supply of old stock and likely fall in output of the new kharif crop.
The maximum wholesale onion price stood at Rs 9.20/kg in the year-ago period in the same market, according to data maintained by a government research body NHRDF.
Lasalgaon sets the price trend for other mandis across India. Already, retail rates have inched up in the national capital, ruling in the range of Rs 30-35/kg today.
The Nasik-based National Horticultural Research and Development Foundation (NHRDF) Director P. K. Gupta said: “There is a tight supply situation.”
The existing demand is being met through old rabi stocks, which have started depleting owing to exports and limited supplies from Madhya Pradesh in view of state government buying, he said.
That apart, the new crop from the kharif season of 2017-18 is also expected to be less, as acreage is seen down by 30-40 per cent in states, especially in Karnataka, Andhra Pradesh and Maharashtra due to less and late rains, besides low prices ruling at the time of sowing.
The arrival of the early kharif crop has begun in Andhra Pradesh. But, the arrival of the kharif crop would begin in full swing from September. Till then, the pressure on availability and prices would continue, agri-experts added.
About 30-40 per cent of the country’s total production comes from the kharif season and the rest from the rabi season.
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