Onion prices set to rise; slump in supplies

Onion prices set to rise; slump in supplies

Onion prices are set to rise in the coming days with various agriculture produce market committees (APMCs) in Nashik, showing a decline in supply for the past two weeks.

The average wholesale prices in the onion growing country that was fluctuating between Rs 1,175 and Rs 1,251 per quintal early this month last week shot up to Rs 1,650 to Rs 1,760 per quintal.

Talking to local media, senior officials from Lasalgaon APMC said that “the hike in onion prices is around 40 per cent and this was due to the unequal equation between the demand and supply”.

Giving details of the supply, APMC officials said in a span of three weeks, “the arrival which was around 20,000 quintals a day came down to 10,000 quintals.”

 Most APMCs last week received supply between 10,000 and 15,000 quintals of onions a day and this decline has been affecting the prices which are shooting up drastically.
Officials from the APMC also feared that in the coming weeks the onion prices may skyrocket if the quantum of supplies does not improve.