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India: Kharif crop brings down prices

( Update: 05/01/2015 )

With decline in demand, the average wholesale onion prices at the country's largest wholesale onion market at Lasalgaon Agriculture Produce Market Committee (APMC) on Wednesday fell by over 9%.

The average wholesale onion prices in the district APMCs, which were in the range of Rs 1,350 to 1,550 a quintal on Monday, declined to the range of Rs 1,400 to Rs 1,450 a quintal on Wednesday.

In Lasalgaon APMC, the average wholesale onion price declined by 9.67% to Rs 1,400 a quintal on Wednesday, against Rs 1,550 a quintal on Monday. The minimum and maximum prices were recorded at Rs 1,100 and Rs 1,581 a quintal, respectively.

Around 6,000 quintals of onions were auctioned at Lasalgaon on Wednesday.

An official from the Lasalgaon APMC said, "There has been a fluctuation of Rs 100 to Rs 200 a quintal in the prices. The arrival of kharif crop in Gujarat, Karnataka, MP and other states have brought down the demand from other states to some extent. The average wholesale onion prices are expected to be in the range of Rs 1,400 to Rs 1,600 a quintal for the next couple of weeks."

He further said, "Presently, the onions arriving in the market is of both summer and fresh kharif crop. This year, the kharif onions, which arrives by mid-September every year, was delayed by two months as monsoon was delayed this year. The arrival of kharif crop is in very low quantity. Presently, 40% of total arrival is of fresh kharif crop."

The average wholesale onion price at Pimpalgaon APMC was recorded at Rs 1,400 a quintal on Wednesday, against Rs 1,350 a quintal on Monday.