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Onion prices continued to rule firm at terminal markets in Maharashtra and Gujarat this week. But problems in movement of container shipments capped gains.
On the other hand, the Centre on Friday raised the minimum by $30 a tonne to $230 to check exports and surge in domestic prices.
“Only one of the three terminals are operational at JNPT (Jawaharlal Nehru Port Trust) as some maintenance work is on. Therefore, people were very selective in booking orders,” said Mr Rupesh Jaju, Director of Nashik-based United Pacific Agro Pvt Ltd.
“This resulted in lower procurement. Still, prices of quality onion commanded Rs 1,000 a quintal,” he said.
Currently, onion ranges between Rs 700 and Rs 1,000 based on quality.
In the Lasalgaon Agricultural Produce Marketing Committee yard in Maharashtra, the modal price or the rate at which most trades took place increased to Rs 925 from Rs 801 last week. Prices increased despite increased arrivals in Maharashtra.
For example, at Lasalgaon, Asia's largest onion market, arrivals were at 1,950 tonnes on Friday, more than double the average arrival last week. Nearly 4,200 tonnes of onions arrived at Lasalgaon during the last three days, according to data from the National Horticultural Research and Development Foundation.
“Prices could stay this way since exporters are not accepting new orders,” said Mr Jaju.
The floor export price of Krishnapuram and Bangalore Rose onions has been kept unchanged at $350 a tonne.
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