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Onion prices soar to Rs 100 per kilogram in Mumbai, Pune

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Onion prices soar to Rs 100 per kilogram in Mumbai, Pune

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As onion prices in Pune and Mumbai soar to Rs 100/kg, centre is all set to relax import norms.

Onion prices soar to Rs 100 per kilogram in Mumbai, Pune
Onion will now cost you more than some exotic vegetables in Mumbai and Pune. The price of the staple vegetable has witnessed a spike this week at Nashik district’s Lasalgaon wholesale market and has now touched Rs 100 per kilogram.
Nashik grows as much as 60 percent of the state's onions and the Lasalgaon agriculture produce market committee (APMC) is the largest wholesale onion market in India.
Why are the onion rates so high?
According to Lasalgaon APMC chairperson Suvarna Jagtap, "This year heavy rainfall has severely affected the onion supply."
These intense rainfalls have extensively damaged the new kharif onion stock. Now, the new kharif crop is likely to arrive by mid-November. Due to this scarcity of supply, the onion prices hiked up to Rs 90-120 a kilo in Mumbai and Pune.
Lasalgaon APMC officials also cited," The supply fell 70 percent in two months – from 22,000 quintals/day in August to 7,000 quintals/day the past week (October). This is likely to continue for another three weeks and wholesale prices will hover around Rs 5,500-7,000 per quintal “for a few days.”
When will onion prices come down?
As per estimates made by the Maharashtra State Onion Growers' Association (MSOGA), about 50 percent of kharif and late kharif onion crops were damaged by heavy rains.
Currently, the Horticulture Produce Exporters’ Association (HPEA) said," Hope is being placed at import stock levelling prices as 70 containers with 2,000-tonne onions have arrived at Mumbai’s Jawaharlal Nehru Port Trust (JNPT) on October 21."
The Association further added, "Another 100 containers with 2,900-tonne onions is expected within two-three days at JNPT pushing landing cost to Rs 40-45/kg and retail cost to Rs 50-55/kg."
Thus, it is expected that the prices are likely to fall down once the new crop arrives.
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