Nashik: The average wholesale onion price at Lasalgaon APMC, country’s largest wholesale market for the produce, went up by Rs 920 per quintal on Tuesday when the auction began after a two-day holiday.
The average wholesale onion price went up to Rs 3,500 per quintal as against Rs 2,580 per quintal on the last working day i.e. Saturday. An APMC official said the price went up owing to drop in supply and rise in demand.
With constant rainfall in Karnataka and other onion growing belts of the country for the past three days, farmers are unable to bring their produce to the APMCs. This has led to scarcity of onions eventually affecting the price.
“Around 2,000 quintal of onions was auctioned at Lasalgaon APMC on Tuesday. On the contrary, demand for onions has increased at large and this has led to the prices going north,” the APMC official said.
The minimum and maximum wholesale onion price at Lasalgaon was recorded at Rs 1,200 and Rs 3,430 per quintal, respectively.
Currently, onions arriving at the wholesale markets are the summer produce harvested in March and April. The shelf life of summer onions is around five months and farmers prefer storing them with a hope of getting better price.
There is no fresh harvest till mid-October when arrivals of fresh kharif onions begin. Thus, the summer onions stored by farmers cater to the market until arrival of fresh kharif onions. A scarcity is created if this cycle is disturbed.
Now, the stock of onions with farmers in the district has almost exhausted. Moreover, plantation of kharif onions was delayed in the district by a month due to delayed monsoon.
Hence, the harvest of kharif onions has also delayed and arrivals of fresh onions is expected in the wholesale markets by the second half of the next month. “Till fresh onions start arriving the trend of average wholesale onion price will keep going upward,” the APMC official said.