Onion prices rise two-fold today
Due to tight supply of old stock, Onion prices rise two-fold today
Due to tight supply of old stock and a miserable fall in output of the new kharif crop, prices of onion shoot up more than two-fold to Rs. 25/kg at Lasalgaon in Maharashtra today.
Lasalgaon is known for Asia’s largest wholesale market for bulk crops.The onions from Lasalgaon Market are transported to many places in India and exported to many countries in the world.
The Nasik-based National Horticultural Research and Development Foundation (NHRDF) Director P. K. Gupta said: “There is a tight supply situation.”
The price of wholesale onion stood at Rs. 9.20 per kg a year ago in the same market, as per the data maintained by a government research body NHRDF.
The kharif crop seems in serious trouble due to less and delayed rainfall. The new crop, 2017-18 is expected to be less as acreage is seen down by 30 to 40 per cent in states like – Andhra Pradesh, Karnataka and Maharashtra.
The shortage between Rabi and the arrival of Kharif is leading to major stock scarcity, resulting to price hike.
About 30 to 40 per cent of the country’s total production comes from the kharif season while the rest from rabi. The existing demand is met through the old rabi stock. Exports and limited supplies from MP have lead to depletion of the rabi crop.
The price trend for mandis across India have been set, leading to increase in the retail rates in the nation. The prices are now ruling in the range of Rs. 30-35 per kg.
—PTC News
