Onion prices dip by 45% in Nashik

After government's measures like export ban and import from Pakistan, average wholesale prices of onion in Nashik district's various Agriculture Produce Market Committee (APMC) markets have come down by around 45 per cent to Rs 2,071 a quintal in the last three days.

On Thursday, the sale of onion in Lasalgaon, Asia's biggest onion market, increased by 83.61 per cent to 13,000 quintals, against 7,080 quintals on Monday.

In Nashik's retail market, good quality onion was sold at Rs 35 a kg on Thursday, against Rs 70 a kg on Monday. Prices in retail markets are expected to settle between Rs 20 and Rs 25 a kg in a week, according to market sources.

On Monday, onion prices doubled to Rs 70 a kg in Nashik's retail market due to low supply of the commodity in the district.

The average wholesale price of onion in Lasalgaon APMC, came down from Rs 3,800 a quintal on Monday to Rs 2,071 a quintal on Thursday. Around 13,000 quintals of onion were sold on Thursday at Lasalgaon APMC, against 7,080 quintals on Monday.

The average wholesale price of onion in Pimpalgaon APMC came down from Rs 3,501 a quintal on Monday to Rs 1,951 a quintal on Thursday. Around 5,250 quintals of onion were sold on Thursday, against 4,673 quintals on Monday.

Around 40 per cent of the crop was damaged in Nashik district due to unseasonal rain in November. Arrival of survived crops is expected to begin in the next couple of weeks, sources told Business Standard.

Maharashtra govt orders prosecution for hoarding

The Congress-led government in Maharashtra on Thursday asked divisional and district heads to have criminal charges filed against speculators and hoaders of onions, to increase its flow and curb prices.

It said it would soon convene meetings with consumer bodies for organising the sale of onions at a reasonable price.

These decisions were announced separately by agriculture minister Radhakrishna Vikhe-Patil and food and civil supplies minister Anil Deshmukh.

Chief Minister Prithviraj Chavan was said to be having a vigil kept on the movement of prices in the onion growing Lasalgaon and Nashik regions, in the wake of the central government's decision to ban exports and waive import duty.

On Thursday, sales at Lasalgaon, the biggest onion market in Asia, surged by 83.6 per cent to 13,000 quintals against 7,080 qtls on Monday. In Nashik's retail market, good quality onion was sold at Rs 35 per kg against Rs 70 per kg on Monday.

Vikhe-Patil, who met officials of the State Marketing Federation and the agriculture commissioner in Pune, told Business Standard: "Officers have been directed to carry out extensive raids on godowns and register criminal offences against hoarders. Despite the availability of about 5,000 quintals, retail sellers almost doubled the price. The situation will become normal in the next four days, as the flow of onion in the market has improved."

He said both the kharif and rabi onion crop were severely damaged due to unseasonal rain. "However, the government will keep a tab on the flow of onion and its prices for the next four months," he said.

Vikhe-Patil said nearly 40 containers, of 40 tonnes of onion, were on way from Pakistan to Mumbai and are expected to be here in next two to three days. This would help ease the shortage, he added.

Deshmukh said his department had also stepped up a drive against hoarders across the state.