Navi Mumbai: No takers for onions at APMC, despite price drop
Traders at Vashi wholesale market lament sluggish sale despite prices dropping by Rs 5-Rs 10, blame it on high retail prices and consumers’ expectation of price dropping further
After making national headlines, wholesale prices of onion have finally started falling this week. Though the prices have decreased considerably, traders say the sale is still sluggish. Despite onion prices falling by Rs 5 to Rs 10 at Vashi APMC wholesale market, hundreds of onion sacks lay unsold on Thursday.
Hundreds of unsold sacks of onions lay stacked at the Vashi APMC wholesale market yesterday
Distressed traders claimed that prices would fall drastically if the situation remains the same in the coming days. Onion traders at Vashi APMC lamented the poor sales. They said it is happening because the retailers are waiting for the rates to fall further.
“With news about imported onions bringing down the prices reaching consumers, retailers and consumers are not buying onions thinking that prices will drop drastically once the imported onion is released in the market,” said Babaji Dhumal, onion trader, Vashi APMC market.
A difficult sell
Despite receiving only 51 trucks of onions on Thursday, as compared to usual 100-120, trade was paltry, claimed dealers. They added that the existing stock must be cleared in a few days to avert loss of quality and money.
Retailers too are struggling to sell their existing stocks, as onions prices are yet to plummet in the retail market. “Good quality onions still cost Rs 70-Rs 90 per kg in the retail market.
Very few people are buying them. We cannot buy fresh stock without clearing the existing one,” said Sachin, a retailer from Byculla vegetable market.
No of trucks that delivered onions to the wholesale market yesterday
Amount of onion imported from Egypt on Wednesday
Rs 50-Rs 60
Wholesale price of onions, per kg, at the Vashi APMC market on Wednesday
Rs 55-Rs 62
Wholesale price of onions, per kg, on Tuesday
Rs 50-Rs 55
Wholesale price of onions, per kilogram, at the Vashi AMPC market yesterday