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Onion prices in Lasalgaon wholesale market have crashed to Rs 9 per kg, a drop of 80 per cent from the peak of Rs 55 per kg in September this year, due to continuous rise in supplies.
Onion prices had skyrocketed to around Rs 100 per kg due to supply crunch during the fourth week of October. At present, onion prices are hovering around Rs 30-40 per kg across the country.
"This is the second lowest price of onion at the Lasalgaon mandi, earlier it had touched Rs 8 per kg in April this year only," NHRDF (National Horticultural Research and Development Foundation) Director R P Gupta told PTI.
In the national capital, onion was selling at Rs 12 at the wholesale markets. While Mother Dairy, which has about 400 retail outlets in the national capital region (NCR), is selling onions at Rs 15 and Rs 24 per kg depending on the quality.
During April-October period in the current year, onion exports 7,38,246 tonnes down from last year's level of 11,56,424 tonnes.
Shipments of onions started showing down fall trend from the month of July as prices of bulb started going up in the domestic markets.
Traders are attributing to recent crash in prices due to continuous and consistent increase in supplies from Karnataka, Rajasthan, Andhra Pradesh and Maharashtra.
