Good news for Mumbaikars: Onion prices drop with bumper crop
A few months ago onions literally made people cry, by burning a hole in their pockets with their skyrocketing rates. However, prices in the wholesale APMC market in Vashi have come down drastically, owing to a bumper kharif crop
A few months ago onions literally made people cry, by burning a hole in their pockets with their skyrocketing rates. However, onions have now brought a reason to cheer, as their prices in the wholesale APMC market in Vashi have come down drastically, owing to a bumper kharif crop.
Abundant supply — seen here at APMC — and poor demand have further reduced the price of onions in the wholesale market, but in the retail market the scenario is different. Pic/Ankoor Anvekar
Traders at APMC revealed that for past one week the market is getting onions in abundance, as a result of which rates have come down to as low as Rs 5 per kg in the wholesale market. Small size onions are sold between Rs 4-5 per kg at APMC. Abundant supply and poor demand has further reduced the prices, traders added.
Traders said that three weeks ago, on an average, onions at APMC were sold between Rs 20-22 per kg, while on Wednesday they were sold at Rs 10-13 per kg. “The kharif crop has been reaped in huge quantity as a result of which the demand and supply ratio has fluctuated and there are few takers for the onions,” said Babaji Dhumal, an onion trader at APMC.
This year rains were delayed, due to which sowing got delayed, but production was good. “The kharif crop from Nashik and Solapur region is good. On an average APMC market is getting not less than 150 truck loads of onions every day. The situation will remain same till March next year,” said Ashok Walunj, director of onion-potato market at APMC Vashi.
When mid-day visited the APMC onion market on Wednesday, sacks of onions were kept across various blocks due to poor demand. While onion rates have drastically come down in wholesale market, the scenario in retail market is different. On Wednesday, onions in the retail market were still sold between Rs 30-48 per kg depending on the quality and size.
Meanwhile, on Tuesday, farmers at Lasalgaon onion market refused to trade after they got a poor price for their produce. That day onion prices at Lasalgaon fell as low as Rs 10 per kg, to which farmers opposed and discontinued trading on Tuesday.
Rs 5 per kg
The onion price at wholesale market