Onion prices soar, touch Rs 15k per quintal in Belagavi

Onion prices in Belagavi APMC yard have brought smiles on the faces of growers.

The wholesale prices of onion continued to soar as the good quality bulbs were sold at a record Rs 15,000 per quintal at the Belagavi APMC auction on Wednesday. 

In the previous years, the APMC yard used to get more than 300 loads of onion during December. But the unseasonal rains have hit the crop, leading to demand-supply mismatch. During the first auction of the months, only 35 loads of onion have arrived in the APMC.

During the auction on Wednesday, grade-1 onions fetched a hitherto unheard wholesale price of Rs 15,000 per quintal. Prices of grade-2 and 3 reached up to Rs 13,000 and Rs 12,000 per quintal, respectively.

Traders said that the retail prices could further go up in the range of Rs 17,000 to Rs 20,000 per quintal.

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