NEW DELHI: Wholesale onion Prices fell to Rs 10 per kg in key consumer markets such as Delhi, Mumbai and Chennai with an increase in the arrival of the perishable product after the government imposed stock limits on traders to control hoarding and price increases, they showed. government data.
Onion prices showed a downward trend even in the producing areas. For example, at Lasalgaon in Maharashtra, AsiaIn the largest wholesale onion market, onion prices fell 5 rupees per kg to 51 rupees per kg in just one day after the government’s order on stock limits.
Among consuming markets, government data showed that wholesale onion prices in Chennai decreased to Rs 66 per kg on October 24 from Rs 76 per kg on October 23.
Similarly, the rates in Mumbai, Bengaluru and Bhopal It was also reduced from Rs 5 to 6 per kg to Rs 70 per kg, Rs 64 per kg and Rs 40 per kg, respectively, in just one day, the data showed.
Prices fell after some improvement in the daily arrival of onions to these consumer markets.
According to the data, the daily arrival at Delhi’s Azadpur mandi, the world’s largest vegetable market, increased to more than 530 tons, while it improved to 1,560 tons from 885 tons in Mumbai.
In Chennai, daily arrivals increased to 1,400 tons from 1,120 tons previously. Similarly, in Bengaluru, the daily arrival of mandis increased to 3,000 tonnes from 2,500 tonnes.
However, in cities like Luckdown, Bhopal, Ahmedabad, Amritsar, Kolkata, and Pune, arrivals have yet to increase.
On October 23, the government invoked the Essential Products Amendment Act and imposed stock limits of 2 tons for retailers and 25 tons for wholesalers until December 31 to control hoarding and cool prices that have touched Rs 100. / kg in some retail markets. .
“The improved arrival shows that some traders were hoarding and have started unloading it out of fear of action. The other reason is that onion is a perishable commodity and cannot be held for long, especially in areas facing heavy rain. “said a senior government. the official said.
The government has also taken various measures to boost domestic availability and control price increases. It has banned exports and relaxed the rules for importing the product.
In addition, the government is releasing onion from its reserve stock in the retail market and key mandis to relieve consumers of rising prices.
Onion prices have been under pressure due to heavy rains in key states of Maharashtra, Karnataka and Andhra Pradesh, which has damaged the standing kharif crop, which is expected to affect mandi from next month.
The government estimates that onion production will drop around 6 lakh tonnes to 37 lakh tonnes in this kharif season.
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