Onion prices fall to Rs 55-60 a kg,‘likely to dip to Rs 15 in a month’

After soaring to Rs 80 a kilogram earlier this week,the onion price on Friday stabilised with the wholesale price touching Rs 4,000 per quintal,bringing down the retail price to Rs 55-60 per kg.

Written by Express News Service | Pune | Published: September 21, 2013 5:02 am

After soaring to Rs 80 a kilogram earlier this week,the onion price on Friday stabilised with the wholesale price touching Rs 4,000 per quintal,bringing down the retail price to Rs 55-60 per kg. Though the wholesale price remains high,traders are speculating that it would come down further,as there has been a good onion crop this season due to ample rainfall and congenial climate. According to traders,although the quality of the fresh produce is not good,the stock has provided some respite to consumers.

Traders operating at the Pune Agricultural Produce Marketing Committee (APMC) said the fall in price was a result of an increase in stock that had arrived from areas around the city and Karnataka.

Vilas Bhujbal,a trader at the Gultekdi Market said,“The arrival of freshly-harvested onions has increased. Around 5 to 6 additional truckloads of onions have come from these places. As many as 15 truckloads of the vegetable from Karnataka has also reached the market,thus,reducing its price. The rate of old onions at APMC market is Rs 5,500 per quintal and the freshly-harvested onions are priced Rs 3,000 to 4,500 per quintal.”

On September 16,the wholesale price of the commodity had touched a record high of Rs 5,500 per quintal in the state. Balasaheb Darade,a trader at Lasalgaon Market,reportedly the biggest onion market in the country,said the prices had come down on Friday at all the major markets in the state.

“At Lasalgaon market,the wholesale price on Friday was Rs 4,000 to 4,200 per quintal. With the arrival of fresh stock,the prices at Pune,Vashi (Mumbai),Ahmednagar,Nashik and Pimpalgaon have gone down considerably,” Darade said.

He,however,added that the quality of the fresh produce was inferior as compared to the old stock. According to traders,the price will continue to fall in the coming weeks. “Our estimate is that the wholesale price will come down to around Rs 15-20 per kilo in a month,” Bhujbal said.

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