Analysts Suggest Stable Food Prices During Festive Season

Due to abundant stock supply along with healthy global supply, food prices should remain stable as reported by Economic Times. The prices of wholesale tomatoes and onions had gone up by 50% in the state of Maharashtra which has come down in the period of two weeks post the income tax raids on onion traders of Nasik. The retails price of onion is being predicted to be between Rs.20 to Rs.30 for one kilogram.

This however does not account for the weather delays in the arrival of the fresh Kharif crops in the month of October. The wholesale onion price has also reduced to Rs. 13 per kilogram post the raid and is being predicted to not go beyond Rs.18 at least till mid-October according to what the trade sources told Economic Times.

“We are getting about 2 lakh crates (of 20 kg each) every day and (tomato) prices are between Rs 6/kg and Rs 15/kg. Unless exports to Pakistan open up, tomato prices are likely to remain at present levels,” Dilip Bankar, chairman at Pimpalgaon APMC in Maharashtra, told the Economic Times. The traders have further predicted that sugar prices should also remain stable till the next crushing season. The prices of cereals, wheat and rice are also to remain stable.