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Onion prices dropped further this week as arrivals continued to swamp markets across the country.
“Low domestic demand added to the bearish trend in onion,” said Mr Rupesh Jaju, Director at Nashik-based United Pacific Agro Pvt Ltd.
Domestic demand is low because of regional arrivals. This means onions grown in other States too are arriving in the markets there.Uttar Pradesh, Rajasthan and Karnataka markets onion crops are arriving in the markets here,” said Mr Jaju.
Even in Maharashtra, arrivals were about 50,000 tonnes in the last three days.
“There have been heavy arrivals in Nashik, Pune and Ahmednagar districts,” he said. Nashik accounted for 30 per cent of the arrivals, while Ahmednagar and Pune accounted for 12 per cent each.
On an average, quality onions fetched Rs 508 a quintal on the higher side and Rs 162 on the lower side. The average price was Rs 380.In Lasalgaon Agricultural Produce Marketing Committee yard, Asia's largest for onion, the modal price or the rate at which most trades took place was Rs 360 with arrivals topping 2,000 tonnes.
Export front
Export demand is stable with far-eastern and Gulf countries showing interest.
“But export prices are rising because of the situation in the domestic market,” said Mr Jaju.
With parts of Maharashtra receiving rains, onion prices are likely to rise in the next fortnight, he said.
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