Onion prices surge to Rs 1000 a quintal

Even after today's sharp fall of Rs 125-250 a quintal, the wholesale prices of onions across various APMCs (Agriculture Produce Market Committees) in Nashik district are ruling high.

This is owing to a combination of rising demand from the domestic as well as export markets, and low arrivals in the markets. The average wholesale price, despite today's correction, is still at a very high level of over Rs 1,000 a quintal.

Onion prices surged between 14 and 100 per cent in the various district APMCs since December 28, 2006 (in four-five weeks), touching their highs on Monday. On that day, onions were sold at Rs 1,350 at Lasalgaon APMC, Rs 1,401 at Pimpalgaon APMC, Rs 1,375 at Yeola APMC and Rs 1,000 a quintal at Nashik APMC. 
 

HOT INDEED Wholesale prices at APMCs in Nashik district
Date	Lasalgaon	Pimpalgaon	Yeola	Nashik
Oct 20, '06	375	350	325	325
Nov 29, '06	700	611	500	375
Dec 28, '06	711	725	625	875
Feb 5, '07	1,350	1,401	1,375	1,000
Feb 7, '07	1,001	1,150	1,250	1,050
Note: Prices in Rs/quintal

Considering the price changes since October 20, these markets have witnessed a mind-boggling 200-300 per cent jump.

In these markets, the prices today plunged by Rs 125-250 a quintal from the levels seen on Monday, indicating a correction.

After today's slump, Nashik retail market was quoting Rs 15-16 for a kg of onions.

The country's leading onion producer Nashik's output, including all three crops "� kharif, rangada and rabi, stands at about 12 lakh tonne a year. This is 35-40 per cent of the state's total production. Maharashtra as a whole contributes around 30 per cent to the country's total output.

Arrivals of rangada crop are on the rise, of late. Therefore, the average wholesale price of onions, which had climbed above Rs 1,000 a quintal, might drop to the Rs 800-900 level over a couple of weeks, market sources said.

The average wholesale price of onion in both Lasalgaon and Pimpalgaon APMCs today dipped by Rs 250 a quintal from Monday's levels.

While at Lasalgaon APMC prices were at Rs 1,001, at Pimpalgaon onions were selling at Rs 1,150 a quintal. At Nashik APMCs, the average price was Rs 1,050, while Yeola was quoting Rs 1,250 and Chandvad APMC Rs 1,000 a quintal.

Over the past three days, Lasalgaon, Pimpalgaon, Yeola and Nashik APMCs sold 1.42 lakh quintals of onions. Of this, Lasalgaon sold 63,890 quintals, Pimpalgaon 52,830 quintals, Yeola 22,700 quintals and Nashik 2,580 quintals.