Onion prices fall 54% on high arrivals in Nashik

The average wholesale prices of onion in Nashik district’s various Agriculture Produce Market Committee (APMC) markets declined 54 per cent to Rs 1,250 a quintal in the last five days due to increased arrival of the new crop in markets.

In Nashik’s retail markets today, good quality onions were sold at Rs. 20-25 a kg and the poor quality at Rs 12 a kg, against Rs 30 and Rs 15-20 a kg, respectively on January 21.

The average wholesale price of onions is expected to fall by 15-20 per cent more in the next two-three days. In retail market, the prices of good and poor quality onion are expected to settle between Rs 15-20 a kg and Rs 8-12 a kg, respectively, market sources told Business Standard.

The average wholesale price of onion in Lasalgaon APMC, Asia’s biggest onion market, came down from Rs 2,700 a quintal on Friday to Rs 1,250 a quintal on Tuesday. Around 17,000 quintals of onions were sold on Tuesday in Lasalgaon APMC.

PTI adds: Wholesale onions rates fell to as low as Rs 5 per kg in the national capital today on the back of improved supply, but retail prices of the vegetable remained high at Rs 40 a kg. Onions were being sold at Rs 5-20 per kg in Azadpur mandi -- Asia's biggest wholesale fruit and vegetables market, traders said.

They added it will take a few days for the fall in prices to reflect in retail markets. The retail prices have been hovering at the level of Rs 40 a kg for the past four to five days.