NASHIK: The average wholesale onion price at the Lasalgaon APMC has declined marginally by 7% over the past five days due to a drop in demand.
The average wholesale onion price was recorded at Rs 1,675 per quintal on Thursday, down from Rs 1,800 per quintal on Monday. The average wholesale onion price had reached Rs 1,950 per quintal on June 21, but started declining thereafter.
According to the APMC officials, the demand for onions has reduced in the domestic market. The arrival of fresh onions has started in Madhya Pradesh and Karnataka, which is catering to the local requirement in those states and also meeting demands from north Indian states. As a result, the demand for the Nashik onions has reduced drastically, said APMC officials.
Moreover, the supply of onions has also reduced by around 40%. Around a week back, 22,000-25,000 quintals of onions were auctioned at the Lasalgaon market per day on average. The amount has now reduced to 12,000-14,000 quintals a day.
The minimum and maximum wholesale onion prices were recorded at Rs 700 and Rs 2,100 per quintal, respectively, on Thursday at Lasalgaon. Around 12,000 quintals of onions were auctioned.
At presently, onions arriving at the APMCs are summer onions harvested in March and April. Unlike the kharif and late-kharif onions, the summer onions have a shelf life of five-six months. Farmers prefer storing the summer onions in hopes of getting better prices.
