Onion prices plunge on bumper harvest in Maharashtra
Commodity Online | February 14 2019
UPDATED 15:53:21 IST

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Onion prices in Maharashtra are crashing down following a bumper arrival of early kharif Onions.

Extensive cultivation, coupled with high-yielding Onion seeds, had led to a surplus of the bulb in Maharashtra. Earlier, farmers would get about 100-150 quintals per acre, but now the yield has risen to 250-300 quintals.

Arrivals are said to be three times larger than they were last year. By end of trading on Wednesday, the price fell as low as Rs 200 a quintal and the modal price to Rs 430 a quintal.

At the Lasalgaon wholesale market, which serves as the benchmark for Onion prices across the country, prices have ranged between Rs 200 and Rs 500 a quintal over the past month.

Traders earlier hoped that the market would stabilise by mid-January after the massive firesale of stored Onions. The Rangda Onion, which gets planted by October and is harvested in 100 days, has also arrived in large quantities.

 

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