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LATEST NEWS UPDATES | At Rs 450/quintal, onion prices dive to 5-year low -Bhavika Jain

At Rs 450/quintal, onion prices dive to 5-year low -Bhavika Jain

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published Published on Feb 27, 2017   modified Modified on Feb 27, 2017
-The Times of India

MUMBAI: Onion prices in the state have touched a five year low. The average price farmers have fetched for a quintal has been Rs 450.

At the Lasalgaon APMC, the biggest market yard for onions in the country, the average price for a quintal has been Rs 740 in February 2016, when the state was reeling under a severe drought. Cost of production for a quintal is Rs 950. Prices were the highest in 2013, with farmers fetching Rs 1,424 a quintal.

Officials said the dip in price is due to bumper production in the state. Lack of storage and processing infrastructure to increase the shelf life of the produce has left farmers at the mercy of traders, who are consistently quoting low prices. Some farmers have set their onions on fire, as they were not even getting the basic input cost.

Lasalgaon was getting 30,000-35,000 quintals of red onions every day in February, as against the average 12,000. The bumper production resulted in traders demanding more railway wagons to transport onions to other parts of the state and country .

"The shelf life of onions is a month; there is so much stock at the market yard, which will take 20 days to clear if we get adequate transport and the stock keeps increasing every day ," said a market committee official.They want 40 wagons to transport onions, but they are getting 15-18 wagons.

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The Times of India, 27 February, 2017, http://timesofindia.indiatimes.com/city/mumbai/onion-prices-in-state-crash-after-bumper-crop/articleshow/57366414.cms


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