Good News before Diwali: Onion prices slashed by Rs 700 per quintal in India's biggest mandi

Onion prices are fast approaching the minimum price level. The wholesale price of onion in Lasalgaon mandi of Nashik, the country's largest onion market, slashed suddenly. The onion, which was being sold on Wednesday at Rs 4711 per quintal, has become cheaper today, i.e., Tuesday Rs 700 per quintal.

Wholesale prices of onion fell in Lasalgaon

Onion prices have come down from Rs 5300 per quintal in Lasalgaon Mandi in Nashik in Maharashtra to Rs 4711 per quintal. Similarly, other types of onion are being available at the rate of Rs. 3400 and poor onion at the rate of Rs. 1001 per quintal. Retail prices will also come down soon due to low wholesale prices.

Retail prices of onions will soon come down

Retail prices of onions are running between Rs 70-80 in many parts of the country. It was feared that if the onions' prices were not controlled now, Diwali prices would reach Rs 100 per kg. But now, after a sharp drop in wholesale prices, retail prices will also be lower. The government has also claimed that onion prices will come under control before Diwali. Many steps have been taken for this.

We tell you what steps the government has taken so far to control the prices of onions, the effect of which has started showing.

Onion prices decreased because

1. To keep the onion price under control, the government had on October 23 raised the stock limit on onion to 25 tonnes.

2. Onion has also been given to states from the buffer stock. NAFED has started sending 1 lakh tons of onions to the market,

3. NAFED has on Saturday sent a tender for the import of 15 thousand tons of red onion.

4. To stop the price of onion, the government had banned its export in September itself.

5. Government on Friday gave exemption in the import of potato from Bhutan. The license requirement has been eliminated, and additional 10 lakh tonnes of potatoes have been imported under the tariff rate quota scheme.

6. Now, before the stock limit is implemented, three days will be given for grading and packing in the onion market from the date of purchase.

7. Onion is being transported to every corner of the country through Kisan Rail.

8. So far 7000 tonnes of onions have arrived in the country. Apart from this, around 25,000 tonnes of onions are expected to come by Diwali.

Apart from these, another big reason is that the onion price will be reduced after the new onion crop arrival. A new crop will also come soon in the market. It would help if you understood why onion prices suddenly increased.

After all, why onion prices suddenly increased

Heavy rains have damaged onion crops in the fields. Whatever onion is coming in the market is of March and April yield. The biggest thing is that onion inflow has also decreased in bulk mandis. The influx of onions in Pune's wholesale market has come down from 500 trucks to 150 trucks per day. That is, on normal days, where 500 trucks used to reach every day. Now only three quarters are coming.

1. Onion is a seasonal crop grown in India two to three times a year.

2. Onion grown by the end of March fulfills the demand until the end of October and November.

3. In between, fresh onion crop comes from southern states in August.

4. By mid-October, the initial Kharif onion crop also starts reaching the markets.

5. By the middle of November, the Kharif crop yield falls in the late Kharif season.

6. This year, the erratic monsoon broke this cycle.

7.Heavy rains in southern states, including Andhra Pradesh, Telangana, and Karnataka, destroyed nearly 50 percent of the Kharif crop.

8. Not only this, Pune's wholesale market and Lasalgaon in Nashik have deteriorated the buying and selling equation.