The onion prices in the state of Maharashtra has fallen to Rs.200 to 300 per quintal in a bid to sell out the old stock reports the F&B News. The new stock however is piling up and the current low prices may affect when this stock comes into the market. The drop in prices is also due to the stock of March-April season which was carried forward, cyclone in Southern states and so on.
Low Prices Of Onions
The report further says that the prices of onions have gone as low as below Rs.300 at the Lasalgaon’s Agriculture Produce Market Committee (APMC) which is one of the biggest wholesale market in the country. “The stocks from the previous rabi season are still stored with farmers and traders. That is creating supply pressure in the market. They want to dispose of the old stock, as the arrival of the new crop is due to start from other northern and central states in December, leading to a further decline in the prices,” said Jaydatta Holkar, chairman, Lasalgaon APMC.
“Due to the rain deficit in many parts of the country, farmers forecast getting a better price for their summer crop. However, their expectations went wrong, with the prices falling further due to the poor quality and new arrivals,” he added. “Farmers are bringing the old stock, which is fetching them about Rs 300 per quintal. With the new arrivals and a huge stock of the old crop, the prices of the new crop are also getting impacted. The new crop is fetching between Rs 600 and Rs 700 per quintal in the markets, compared to Rs 1,500-2,000 per quintal. Thus, the weak price sentiment is influencing the new crop prices too.”