Onion prices at Lasalgaon fall 17% in nine days

Nashik: The average wholesale price of onions at the Lasalgaon Agricultural Produce Market Committee, Asia's largest onion market, has fallen by 17% over nine days. From ₹4,450 a quintal on October 1, the average slid by ₹750 to ₹3,700 on Friday, October 9, when about 6,000 quintals were auctioned. The day's minimum price was ₹1,000 and the maximum ₹4,361 a quintal.

Traders said the arrival of fresh kharif onions in Andhra Pradesh, Karnataka and Madhya Pradesh has cut demand for Nashik's summer onions, which were harvested in March and April and stored, and are now reaching the market. Exporters too prefer the new kharif crop to the older summer stock, putting prices under pressure.

Onion trader Manoj Jain said demand for Nashik onions from north Indian markets has weakened because of fresh arrivals from Madhya Pradesh and the south. He added that Rajasthan's kharif onions are expected by the end of this month, and the kharif harvest in Dhule district should begin in the first week of next month.

Despite the fall in wholesale prices, onions are selling at ₹60 to ₹70 a kg in retail markets in Nashik city.

Source: The Times of India