Decline in onion price reported as the new crop arrives

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Sept 23: The retail market in the national capital has reported that on Monday the prices of onions has been shown decline by Rs 10 per kg i.e from Rs 70 to Rs 60 due to the arrival of new crop in the whole sale market.

It is said that prices are further going to come down as new crop from Karnataka has started coming into the market.Besides,with the increase of arrival of onions by 50% to 76266 quintals on Monday as compared to last week level at Bangalore wholesale market also attributes downward trend in prices according to national horticulture research and development foundation data.

Prices of the kitchen staple have also declined as onion from Afghanistan via Wagah border have started coming into the market, traders added.

Surendra Budhiraj,President, Merchant traders association said that “Supplies have improved as the new crop from Bangalore Mandi is coming in to the Azadpur Mandi, which has brought the prices down by Rs. 10 per kg  i.e from Rs 50-40 per kg.

He added that supplies have increased by around 30 per cent from the last week, with around 12,000 quintals of onion arriving in the market today against last week’s average arrival of 9,000 quintals.

Meanwhile, Mother Dairy outlets, which are selling onions at Rs. 62-64 per kg, is also contemplating reducing prices from on after the fall in the prices at the wholesale market, an official said.

Traders also attributed the fall in wholesale onion prices to decline in prices in Lasalgaon Mandi in Nasik, which sets the price trend of the politically sensitive commodity across the country.

According to NHRDF data, onion prices at Lasalgaon in Nasik, decreased by Rs. 6 per kg to Rs. 41 per kg on Monday.

The government’s recent decision to hike the minimum export price (MEP) of onion to $900 per tonne from $650 per tonne has also pushed the prices downwards.

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