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LATEST NEWS UPDATES | Onion prices rise about 40% in a week -Tushar Pawar

Onion prices rise about 40% in a week -Tushar Pawar

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published Published on Apr 18, 2014   modified Modified on Apr 18, 2014
-The Times of India

 

NASHIK: Brace up for an onion price hike again. Unseasonal rains and hailstorms in Nashik district have pushed up onion prices by about 40% in a week at the country's largest wholesale onion market, the Lasalgaon Agriculture Produce Market Committee (APMC),

In the district APMCs, the average wholesale onion prices, which were in the range of Rs 575 to Rs 801 a quintal on April 10, rose to Rs 750-Rs 1,011 on Thursday. In the retail market, good quality onions were sold in the range of Rs 12 to 15 a kg.

Speaking to TOI, an official from the Lasalgaon APMC said: "The quality of onions has been damaged due to recent hailstorms and unseasonal rains and only 40% of total arrival of the produce in the last month was of good quality. But the quantum of good quality onions has increased to 55% to 60% from this week and good quality onions are getting good prices. This is the major reason behind the rise in the average wholesale onion prices."

Director of the National Agriculture Co-operative Marketing Federation of India, Changdeo Holkar, said: "The farmers have started storing onions with the hope of getting better prices in the future. The arrival is expected to continue till June 15, after which it will decline. By June 15, the average wholesale onion prices are expected to be in the range of Rs 1,000 to Rs 1,300 a quintal."

Currently, the onions arriving in the market are from the summer harvest, and have a shelf life of around seven months. Hence, the farmers are in no hurry to sell the produce and are hoarding the produce. On the contrary, the shelf life of kharif and late kharif crop is around just a month. So the farmers have no choice but to sell their commodity at the prevailing market rates during the kharif season.

The average wholesale onion price at Lasalgaon was Rs 1,011 a quintal on Thursday, against Rs 725 on April 10. The minimum and maximum prices were Rs 351 and Rs 1,443, respectively, and around 12,000 quintals of onions were auctioned.

In Pimpalgaon, the average wholesale onion prices was Rs 921 on Thursday, against Rs 801 on April 10. The minimum and maximum prices were recorded at Rs 300 and Rs 1,590, respectively, and around 9,500 were auctioned.

The average wholesale prices at Yeola was Rs 750 on Thursday against Rs 575 on April 10. The minimum and maximum prices were Rs 200 and Rs 1,340, respectively and around 3,000 quintals were auctioned.

 


The Times of India, 18 April, 2014, http://timesofindia.indiatimes.com/india/Onion-prices-rise-about-40-in-a-week/articleshow/33877660.cms


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