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LATEST NEWS UPDATES | Onion prices soar to Rs 5,300 a quintal in Lasalgaon-Tushar Pawar

Onion prices soar to Rs 5,300 a quintal in Lasalgaon-Tushar Pawar

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published Published on Sep 17, 2013   modified Modified on Sep 17, 2013
-The Times of India


NASHIK: The average wholesale price of onions at the country's largest market at the Lasalgaon Agriculture Produce Market Committee (APMC) in Nashik touched a new all-time high of Rs 5,300 a quintal on Monday. This pushed the retail rate to Rs 70 a kg against Rs 55 last week.

The prices have skyrocketed, breaking the previous record of Rs 4,800 a quintal last Friday, largely due to the decline in supply as farmers have not been able bring the stored onions.

The minimum and maximum prices at APMC were recorded at Rs 3,000 and Rs 5,300 a quintal. Around 5,000 quintals of onions were auctioned in Lasalgaon on Monday.

Market sources said there is a limited stock of onions stored with farmers in the district. The revival of rains for the past week in the district is the main reasons why farmers have not been able bring the stored onions in the market.

Moreover, the market was closed for five days due to holidays and weekends from Sept 7 to 15. This led to decline in supply in the market causing sharp rise in the prices in the market.

Changdeo Holkar, director of the National Agriculture Co-operative Marketing Federation of India (NAFED), said, "There is limited stock in the country. The ongoing rains have also stopped the arrival of fresh crop from Karnataka and Andhra Pradesh.''

He said this has led to sharp rise in onion prices. "Onions will arrive from these states once the rains stop. But, the prices are expected to reverse in a week as arrival of fresh kharif crop is also expected to begin in Satara, Solapur and Kolhapur districts in Maharashtra by the last week of September. In Nashik district, it is expected to arrive by the second week of October."


The Times of India, 17 September, 2013, http://timesofindia.indiatimes.com/business/india-business/Onion-prices-soar-to-Rs-5300-a-quintal-in-Lasalgaon/articleshow/22642412.cms


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