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Bhubaneswar: With farmers in Nashik, India's onion hub, bringing out their premature onions to markets to cash in on high prices, the supply tide is nudging the prices down in the country, including Odisha.
As per data with Agricultural Produce Market Committee (APMC), Lasalgoan Mandi (Nashik) has seen arrival of 6300 tonnes of onion today. And the prices were quoted at as low as Rs 20/kg to a high of Rs 85/kg. The arrivals on December 11 were 704 tonnes.
Significantly, the rush of the red edible bulb in December and together with the arrival of nearly 30,000 tonnes of imported onion by December end or January first , experts at APMC feel the onion prices may crash to as low as Rs 5/kilo in the New Year.
However, in Bhubaneswar mandis, the supply side situation during the last fortnight has not improved much, still the prices at retail level have dipped by nearly 29 per cent to touch Rs 89/Kg on December 13.
As per the APMC data, the onion arrivals in Bhubaneswar market on December 6 were 100 tonnes but the prices zoomed to Rs 125/kg. In contrast, arrivals today (Dec13) stood at 100 tonnes, but retail prices stood at Rs 89/kg.
The comparative data shows how speculative trading in markets are playing havoc. The only change then and now is, onion arrivals got a boost in Nashik markets. A fall in onion prices in Nashik has an effect here. And traders have lowered the prices of the edible bulb, without the supply being augmented.
The main reason for fall in onion prices in Odisha is attributed to the Union Govt's Dec 11 order that halves onion stockholding limits for retail traders to 5 tonnes from 10 tonnes.
