Onion falls 62% on fresh arrivals, export curbs

The average wholesale prices of onion in various markets across Nashik district "" a major onion market in the country "" declined by around Rs 600 a quintal on Monday, owing to new arrivals of the unhal crop in large quantity coupled with the government's measure to discourage exports.

Last month, the government had raised the minimum export price of onion to discourage its exports.

Onion prices fell on Monday in the range of 54.2-62.5 per cent in various Agriculture Produce Market Committees (APMCs) across Nashik district as compared with the prices in the month-ago period (February 5).

Today, onion was sold at Rs 7-8 a kg in the Nashik retail market.

The average wholesale prices in Lasalgaon APMC were Rs 730 a quintal (Rs 1,350 a quintal on February 5), Rs 375 a quintal (Rs 1,000) in Nashik APMC, Rs 630 a quintal (Rs 1,375) in Yeola APMC and Rs 721 a quintal (Rs 1,401) in Pimpalgaon APMC. The district produces about 12 lakh tonne of onion a year (including all three crops "" kharif, rangada and rabi), accounting for about 40 per cent of Maharashtra's share. The state makes up about 30 per cent of the country's total onion production.

New arrivals of the unhal onion are also good in the wholesale markets across Gujarat and Rajasthan. Adequate supply of the crop has

brought down the prices, which are expected to be stable at least for the next two weeks, according to market sources.

On Monday, 16,500 quintals of the crop were sold at Lasalgaon APMC, 11,790 quintals at Pimpalgaon, 5,340 quintals at Yeola APMC and 1,215 quintals at Nashik APMC.