Significant reduction in new season onion prices

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Mumbai, Ta. 29 January 2020, Wednesday

Onion prices have dropped by about 40% in the last five days, as the new season's crop arrives in wholesale markets across the country. According to data from the National Horticultural Research and Development Foundation based in Nashik, onion prices in Lasalgaon wholesale market have fallen to Rs 5-7 per kg which was Rs 1 on January 1.

The onion revenue has been seen as the farmers have aggressively affected the harvesting of crops. Apart from this, the pressure on Nashik onion in Gujarat, Karnataka and Madhya Pradesh is also going down in the market, sources said.

The government has banned onion exports, which has led to an increase in domestic supply. Onion production is also reported to be up seven per cent in the current crop year, market circles said.

In November-December of last year, onion prices rose to Rs 5 per kg, which prevented the serving of onions in hotels.

The average daily income of onion at Lasalgaon in December has risen to more than 5 tonnes.

The monsoon of 2 had long sown in the country. The harvesting operations have also been delayed by one to two-and-a-half months, said the circles.

Onion production in the country is projected to grow by 7 per cent to 8.5 million tonnes in the current crop crop of 3-4 tonnes. Last year, an area of ​​3.5 lakh hectares was taken up. As a result of this, onion production, which stood at 8.5 million tonnes in the crop crop of 5-7 tonnes, is expected to rise to 8 million tonnes.


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