Onion Prices expected to fall by 50 % :Reports

Onion Prices expected to fall  by 50 % :Reports

Onion prices could drop by 50 percent in the next two weeks due as arrivals from Maharashtra, Gujarat, and Karnataka pick up, Business Standard reports.

Supply of seasonal and pre-seasonal varieties of “red onions” is expected to see a sharp increase, the report said.

At Lasalgoan, India’s largest wholesale onion market, the kitchen staple was trading at Rs 41 per kg on December 10 against Rs 71 on December 7. The drop followed the arrival of pre-matured onions.

“Onion prices are likely to be between Rs 20 a kg and Rs 25 a kg by January. Prices will decline gradually as arrivals increase steadily. In the next two weeks, we expect it to fall to Rs 30-35 a kg,” Suvarna Jagtap, chairman of Lasalgaon’s Agriculture Produce Market Committee (APMC), told the publication.