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LATEST NEWS UPDATES | Raid threat pulls down onion prices in Maharashtra -Jayashree Bhosale

Raid threat pulls down onion prices in Maharashtra -Jayashree Bhosale

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published Published on Sep 24, 2013   modified Modified on Sep 24, 2013
-The Economic Times


PUNE: Onion prices have crashed by 25-30% from the peak of Rs 60 per kg last week after the Maharashtra government threatened onion traders with raids and new harvests eased pressure on supplies.

On September 18 and 19, wholesale prices at many APMCs in Maharashtra had risen to Rs 55 per kg. A meeting held by the state's marketing director at Lasalgaon on September 19 suggesting raids if prices did not come down had an immediate impact. The next day, prices came down by Rs 10 per kg.

"The overnight fall by Rs 10 per kg proves that they were being raised artificially," said a source. Lasalagaon APMC secretary BY Holkar said, "The arrival of Karnataka onions has been responsible for the decline in wholesale prices at Lasalgaon."

Fresh onion is now available in Ahmednagar and parts of Kolhapur and Solapur in Maharashtra. On Monday, more than 11,000 quintals arrived at Ahmednagar with the average price of Rs 22 per kg, which is half the price prevailing at Lasalgaon.

Wholesale prices are expected to come down further in the next 3-4 days. "Wholesale prices will soon come below Rs 30 per kg," said RP Gupta, director, National Horticulture Research and Development Foundation, Nashik. Although retail prices are still in the range of Rs 50/kg to Rs 80/kg, they are expected to drop in the next two to three days.

Farmers in Maharashtra have advanced harvesting by 10 days as prices are good. However, at Lasalgaon, supplies have decreased as farmers are still holding on to ample stocks in the hope of prices going up again.

The arrival of the fresh kharif crop is building up in Karnataka, which has started supplying to other states. The Karnataka onion is also coming to markets like Pune in Maharashtra and selling at lower than stored onions in Maharashtra.


The Economic Times, 24 September, 2013, http://economictimes.indiatimes.com/news/economy/agriculture/raid-threat-pulls-down-onion-prices-in-maharashtra/articleshow/22955376.cms


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