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LATEST NEWS UPDATES | Good supplies cut vegetable prices 20-25%-Sutanuka Ghosal & Madhvi Sally

Good supplies cut vegetable prices 20-25%-Sutanuka Ghosal & Madhvi Sally

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published Published on Mar 11, 2013   modified Modified on Mar 11, 2013
-The Economic Times

Vegetable prices have dropped thanks to good supplies across the country. Onion, tomato and potato prices have fallen by almost 20%-25% in the last fortnight bringing relief to consumers. Traders say prices are likely to remain low till June.

Indians consume nearly 15 million tonne onions a year. A drop in the prices of staple vegetables like onion and potato helps bring down food inflation, a major worry for the UPA government.

"Onion prices have crashed because supplies have improved from Maharashtra, Rajasthan, Gujarat and Madhya Pradesh. The price at Pimpalgaon is hovering around Rs 1,000-1,100 per quintal and will come down further when the Sukhsagar variety from West Bengal enters the market. The price will not be more than Rs 800-900 per quintal from next week," said Atul Sahay, a member of the Pimpalgaon APMC.

Vittal Bhatt, branch manager (Mumbai), National Agricultural Cooperative Marketing Federation of India (Nafed), said: "The better quality Pune variety is fetching Rs 1,000 per quintal while the Nasik variety is getting a price of Rs 900 per quintal." In Delhi's Azadpur market, nearly 45-50 trucks each carrying 18 tonne onions are arriving regularly.

In Mumbai, the retail market price is hovering between Rs 18 andRs 20 per kg while it is in the range of Rs 20 to Rs 22 per kg in the national capital. In Bengal, price is steady at Rs 20 per kg.

Exports to Pakistan, which may have pushed up domestic prices, are yet to gather momentum. Rajdeep Uppal, vice-president of the Amritsar Exports and Imports Chamber, said: "In Pakistan, onion is currently being sold at Rs 32 per kg. But our cost of exports comes around to Rs 35-37 per kg. Pakistani importers are not ready to pay this price. Therefore, the flow to Pakistan has come down. Tomato exports have slowed down too as Pakistan's own production has entered in the market."

Tomato prices generally go up during this period when supplies from winter harvest come to an end. "Availability in the market is better this time as exports to Pakistan have come down," added Uppal. Prices are hovering around Rs 20 per kg in metros.

Retail prices of potato, another staple vegetable, have dropped toRs 8-10 per kg from Rs 14 per kg a fortnight ago. "Price is not likely to go up this year. There is oversupply in the market and traders are not keen to hold potatoes in cold storages. They are directly buying from farmers and selling them in the market. The Jyoti variety is now commanding a price of Rs 500 to Rs 520 per quintal. The Pukhraj variety is sold at Rs 420 per quintal at the wholesale market and the Chandramukhi variety is commanding a price of Rs 650 per quintal," said Patitpaban De, a potato farmer and member of the West Bengal Cold Storage Association, West Bengal. The second largest potato-growing state has produced 100 lakh tonne this year surpassing the last year's production of 95 lakh tonne.

The Economic Times, 11 March, 2013, http://economictimes.indiatimes.com/markets/commodities/good-supplies-cut-vegetable-prices-20-25/articleshow/18900877.cms


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