The average wholesale onion price at the country's largest wholesale onion market at Lasalgaon Agriculture Produce Market Committee (APMC) skyrocketed to the highest-ever level on Friday, reaching Rs 5,600 per quintal. The earlier record price was Rs 5,501 a quintal on September 17.
In retail markets across Nashik, onions were being sold at Rs 60 a kilo.
In the district APMCs, the average wholesale onion prices were recorded in the range of Rs 5,451 to Rs 5,751 a quintal on Friday, against Rs 5,251 to Rs 5,300 a quintal on Thursday.
In the Lasalgaon APMC, the average wholesale price of onions increased by Rs 300 a quintal (5.66 per cent) to Rs 5,600 a quintal on Friday, against Rs 5,300 a quintal on Thursday. The minimum and maximum prices were recorded at Rs 2,500 and Rs 5,947 a quintal, respectively, on Friday.
According to sources, the prices have risen due to a decline in supply. Fresh kharif crop has started arriving, but has yet to reach an optimum level.
On Friday, fresh crop at Lasalgaon APMC weighed in at around 200 quintals. Wholesale onion prices will not come down until stocks arrive regularly in the market, especially now that the summer stock stored by farmers has been exhausted.
Prices are expected to go even higher over the next 10 days and will only reverse thereafter, with more fresh crop hitting the markets. The fresh crop quantity has moved up to 200 quintals a day from 50-70 quintals a day a week ago at Lasalgaon.
"Regular arrival of fresh kharif crop has already commenced in Andhra Pradesh and Karnataka. The arrival of the fresh crop in other states has reduced the pressure on the Lasalgaon APMC," a source said.
Source:- timesofindia.indiatimes.com
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