Onion prices rise as supply trims

Source: The Hitavada      Date: 14 Dec 2018 10:20:51


 

Business Bureau,

THE supply of onions that was coming from major producing areas has drastically dropped resulting in prices shooting up in the wholesale market. “The supply of old onion crop is almost exhausted and only a small quantity remains to be sold. This has led to lower supplies and prices rising in the wholesale market,” said Jaiprakash Vasani, past President of Kanda Batata Bazar Adtiya Welfare Association, Nagpur and owner of Pankaj Trading Company.


The prices of red onions being quoted in the wholesale market were as follows: Red onions at Rs 350 to Rs 400 (40 kilogram bag) compared to a week ago at Rs 250 to Rs 300 (40 kilogram bag). An increase of Rs 100 per 40 kilogram. Similarly, prices of white onions being quoted in the wholesale market were at Rs 300 to Rs 400 (40 kilogram bag), he said.
The wholesale market is receiving only 8 to 10 trucks on an average per day compared to a week ago with 20 to 25 trucks on an average per day coming in the wholesale market, he said.


Farmers, who stored onions during the summer months, have sold most of their produce. Only a small portion remains to be sold. The new onion crop has just started to arrive and supplies will gain momentum in coming days. “Until the supplies increase, onion prices will be on a higher trajectory,” he pointed out. Currently, red onions are coming from places like Dhulia, Jalgaon and Ahmednagar. White onions come from places like Challisgaon and Dhulia in Maharashtra, he added.