Onion retail prices continue to soar

Wholesale rates of onions in Delhi and the main producing region of Nashik today fell by up to 42 per cent, but retail prices of the commodity continued to rule at Rs 70-80 per kg in the national capital.

In the wholesale market of Lasalgaon, in Nashik district of Maharashtra, onion prices fell to Rs 3,702 per quintal from Rs 5,200 per quintal yesterday, as per National Horticultural Research and Development Foundation (NHRDF) data.

Likewise, in Pimpalgaon, wholesale rates for onions fell by 42 per cent to Rs 3,134 per quintal from Rs 5,411 per quintal yesterday. In Manmad, wholesale prices fell by 36 per cent from Rs 4,500 to Rs 2,900 a quintal, the data showed.

The impact of the fall in wholesale onion prices in Nashik was felt in Delhi's Azadpur wholesale market too.

Wholesale prices of onions crashed by up to 29 per cent in comparison to yesterday's rates in the Azadpur market -- which is Asia's largest fruit and vegetable market -- due to higher stock availability, official and trade sources said.

Rajasthan variety onions were being sold at Rs 3,550 per quintal in the Azadpur market today, compared to Rs 5,000 per quintal yesterday.

Similarly, Nashik variety onions were sold at a price of Rs 4,250 per quintal as compared to Rs 5,250 a quintal yesterday, a 19 per cent fall.

Though wholesale prices of onion have come down, it will take some time before they have an impact on retail prices, traders said.

Meanwhile, the government has banned onion exports till further notice and abolished import duty on the commodity with a view to improve domestic supply. Private traders have started importing onion from Pakistan since Monday.