Onion prices down 40% from season's peak on govt action but supplies worsen

Cheer for consumers, grief for farmers and traders. Huge losses for stockists who booked at higher levels on hopes of further price rise

In some big respite for consumers, wholesale onion prices have declined by 40 per cent the past two weeks, due to continuous measures by the government to control hoarding and stem the unusual surge in prices ahead of festive season demand.

In the benchmark Lasalgaon Agriculture Produce Market Committee (APMC), onions prices on Friday remained unchanged from Thursday's level at Rs 27 a kg. But at that level they were by as much as 40 per cent from this season’s peak price of Rs 45 a kg scaled on September 19, though they are still much higher than Rs 13-14