Onion prices continue to spiral

Onion prices continue to spiral

Onion prices continue to spiral

The wholesale prices of onion at Lasalgaon in Nashik, the biggest onion market of Asia, continue to soar further on Friday because of a compounding demand-supply mismatch.

The impact of the spiralling prices is likely to be felt during the ensuing festivals of Ganeshutsav and Navratri-Dassera.

On Friday, during the auctions, the wholesale price per quintal peaked at Rs 5,824. However, the maximum trades took place at the Rs 5,400-levels which is Rs 54 per kg. 
No solution in sight
In the Mumbai Metropolitan Region (MMR), the retail prices were between Rs 60 and Rs 70.

“At least for the next two months, September and October, the problem is going to last and this is making us uncomfortable,” Nanasaheb Patil,  a member of the National Agricultural Cooperative Marketing Federation of India Ltd (NAFED), said from Lasalgaon.  
With the prices spiralling, there are already signs of worry at the Agriculture Produce Marketing Committee (APMC) centres across Maharashtra.

Two-year high
The wholesale and retail prices are around a level of two-year-high - with onion once again slowly compounding into a political issue.

It is pertinent to mention here that Ganeshutsav and Navratri-Dassera falls in September and October, respectively. While Ganesh Chaturthi falls on September 17, Anant Chaturdashi falls on September 27.

The Navratri festival commences on October 13 with Ghatasthapana and ends on October 22 with Dassera.

“The situation would ease only in November with the new arrivals are on expected lines,” sources in NAFED and APMC said.