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Onion prices in Nashik correct again after fall

Explaining that Lasalgaon is Asia's largest onion market, Patil said, "In Nashik district, there are 14 APMCs. The daily supply in all these APMCs is around 14 lakh quintal, almost 35 percent of the total supply for India."

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Onion prices in Nashik correct again after fall
File photo of farmers with their onion harvest
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Prices of onion, which plummeted in the week after the Income-Tax raids on the traders in Nashik, have started correcting again. In the wholesale market on Monday, onion was sold at the rate of Rs 1,800-Rs 2,000 per quintal as against the Rs 1,000-Rs 1,200 just a few days ago.

According to the Agriculture Produce Market Committee (APMC), Lasalgaon, the onion prices are rising steeply. "We are receiving 600-800 tractors and truck loads of onion daily. The supply is steady, but the waste percentage in the old onion stock is quite high. Besides, it will take a month for the arrival of fresh onion. Therefore, the prices of onion is likely to go up, but not through the roof, in the coming days,"said Nanasaheb Patil, chairman of APMC, Lasalgaon.

Explaining that Lasalgaon is Asia's largest onion market, Patil said, "In Nashik district, there are 14 APMCs. The daily supply in all these APMCs is around 14 lakh quintal, almost 35 percent of the total supply for India."

Ashok Walunj, onion trader at APMC, Vashi also confirmed the rise in prices. "There is 10 percent rise in onion rates. The prices are likely go up in the next week by another 20-30 percent. The supply of the old stock has been drying up, while new arrival has been delayed. In the next week, the prices in the wholesale market will be Rs 2,500-Rs 3,000 per quintal," Walunj said.

He added that the customers shouldn't panic over the price rise. "This is the only period where the farmers benefit from onion price rise. Once this season is over, the prices remains the stable." Walunj added.

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