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Rediff.com  » Business » Onion prices set to climb down

Onion prices set to climb down

Source: PTI
October 24, 2005 16:18 IST
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Retail price of onion is expected to ease across the country in the second week of November as dealers foresee plenty of fresh stocks to flood the markets.

Kharif crop of onions from Karnataka, Maharashtra and Rajasthan was likely to reach the markets by November 15 -- which would help bring down the retail prices from the current high level of Rs 20-25 a kg, according to wholesale dealers.

Some traders already claimed that there has been improvement in onion arrivals in the Navi Mumbai wholesale market.

"Today around 80 trucks have arrived as against around 40 to 60 trucks some two days back and (wholesale) prices are hovering around Rs 150 to Rs 180 per 10 kg, which would not fall before November 15," Rajendra Raskar, president of the Kanda Batata Association at Agriculture Produce Market Committee, Navi Mumbai, said.

Traders in Madhya Pradesh, where the commodity is being sold for anything between Rs 18-25 by retail vendors, expect prices to fall by Rs 2-5 a week once fresh stocks arrive in the markets.

In Punjab, wholesale dealers reported a Rs 2.50 drop in prices of onion today, which they attributed to the government's decision to import the commodity.

Onion prices soared due to non-arrival of stocks from major producing regions such as Lasalgoan, Satana and Yavla, where unseasonal rains damaged the crop.

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