Mutton is retailing here at Rs 600 a kg, from Rs 500 a kg about a month before. Price of broiler chicken is Rs 150-160 a kg, as compared to Rs 130 a kg earlier.
Gold-silver ratio indicates more upsurge possible for the white metal.
Experts believe the rising prices may encourage farmers to bring in additional areas for under onion cultivation during the rabi season, which may boost the precious bulb's output, reports Dilip Kumar Jha.
Despite onion prices hitting Rs 130 a kg in the wholesale market, farmers have not gained enough to make a profit this season. Farmers and other stakeholders in the value chain estimate that 30 per cent crop damage this kharif season would result in a decline of about 2 million tonnes in output from Lasalgaon district alone. Similar crop damage across the country could lead to an onion shortage of nearly 7 million tonnes this year.
Farmers in Nashik district, Maharashtra - a major producer of onion - have started harvesting the premature crop to cash in on the high prices in mandis. Good-quality onion was quoted at Rs 93.50 a kg on the higher side. However, the poorest-quality onion was selling at Rs 25.50 a kg on Wednesday as against Rs 20 a kg on Tuesday. Thus, the model price of onion works out to Rs 70-75 a kg in Lasalgaon, translating into Rs 100-125 a kg in the retail markets of the country.
Onion prices are likely to decline by 50 per cent in the next two weeks, as arrivals of seasonal and pre-seasonal varieties of "red onions" from Maharashtra, Gujarat, and Karnataka increase sharply. Arrival of pre-matured onions has already brought down prices by 42 per cent since Sunday.
The industry body has issued two advisories in an attempt to restore jewellers credibility in the wake of the Rs 12,000-crore PNB-Nirav Modi scam, and recent defaults by two domestic jewellers - Goodwin and Rasiklal.
The yellow metal now trades at a 0.5 per cent premium over its landed cost, compared to a 4 per cent discount in mid-September because jewellers have voluntarily withdrawn the display of cash price from their website.
Confidence had ebbed in the last few years due to default by some errant domestic retailers and exporters. Moreover, many jewellers are believed to have diverted the fund collected through monthly deposit schemes to pay 'mark-to-market' margins on various loans.
'The availability of vegetables has gone down due to fewer arrivals in wholesale mandis. Their supply was disrupted because of low yields and high spoilage,' says Shyam Bhimraoji Karlekar, chairman, APMC Wardha, one of the largest sellers of vegetables in Maharashtra.
Scenario is precarious for urad with almost half the crop damaged in major growing states, tur quota of 400,000 tonnes already exhausted.
Onion is currently trading between Rs 70 and Rs 80 in retail markets across the country.
Discounts and incentives are attractions jewelleres are offering along with new designs to woo customers to boost sales ahead of Diwali.
On the occasion of Chinese president Xi Jinping's two-day visit, Indian exporters are looking for a big boost in export of agricultural commodities, especially the ones that have been impacted by the ongoing trade war between the United States and China.
Assembly elections in Maharashtra are scheduled later this month. The farmer protests are likely to affect the results, especially in the onion-growing belt of Nashik.
With auctions unable to proceed, the median onion price declined 17 per cent or Rs 6 a kg to trade at Rs 30 a kg on Monday, with arrivals of around 500 tonnes.
Trade sources believe that tomato supply from Maharashtra has slumped due to incessant rain in the state towards the fag end of the monsoon season, reports Dilip Kumar Jha.
Onion has become costlier by over 33 per cent in the last one week and over 70 per cent in September so far, reports Dilip Kumar Jha.
At Lasalgaon mandi, Asia's largest onion selling market, the onion price jumped Rs 1.50 a kg to Rs 32 a kg, the highest since January last year.
The US is the largest consumer of gems and jewellery in the world contributing nearly 40 per cent of global production. If India can tap the opportunity, its overall exports to the US could jump by 10 per cent to $ 11 billion this year.
© 2025 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances