Wholesale onion prices drop to Rs 8 per kg; retail prices are also falling

Navi Bombay: The arrival of a new crop of onions and a drop in demand have lowered its price on the wholesale and retail market. The average purchase price of onion at the Agricultural Commodities Market Committee (APMC) in Vashi is Rs 8 per kg.

According to traders, due to the summer holidays, many families travel to their home countries and there is little demand. However, at the same time, the market receives the goods in good quantity.

“The demand for onions in the market has decreased over the past two to three weeks. A large quantity of onions is coming to the market, but as the demand is less, onion prices have dropped,” the traders explain.

“Last year, in May-June, the wholesale price of onion went below Rs 10,” said a trader. This year, the lowest purchase price of onion is as low as Rs 7-8 per kg.

In February, the price of onion in the retail market reached Rs 80 per kg due to insufficient supply. Even last year, in August-September, the price of onion touched Rs 90 per kg. Due to excess rainfall, crops were damaged and there was very little supply during the November-December period.

The supply of the goods on the Onion-Potato market at the APMC of Vashi is now about 7000 quintals.

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Posted: Friday 06 May 2022, 09:11 IST