Onion prices up in Lasalgaon as arrivals halve.
Onion prices up in Lasalgaon as arrivals. Prices of onion in Lasalgaon
Onion prices unavailable as key markets shut.
Prices of onion fell in Lasalgaon, Maharashtra, due to subdued demand from stockists following concerns over quality of the domestic stock. In Lasalgaon, onion was sold at 650-700 rupees per 100 kg, down 50 rupees. Arrivals were estimated at 900 trolleys, each carrying 1.5-2.0 tn, up 130 trolleys. In Pimpalgaon, onion was sold at an average 800 rupees per 100 kg, down 25 rupees. While arrivals were estimated at 700 trolleys, down 300 trolleys.
Production of onion, potato and tomato has fallen marginally in the 2017-18 crop year ended June 30. As per the ministry’s third advance estimate, onion output is likely to be around 22 million tonnes (MT) during the reported period, lower than 22.4 MT in 2016-17. Similarly, potato production is estimated to remain flat at 48.5 MT as against 48.6 MT in 2016-17, while tomato output is projected at 19.4 MT as against 20.7 MT earlier. However, the overall production of vegetables is estimated to be higher by one per cent to 179.7 MT over the previous year, the data showed. In case of fruits, the output is projected at 97 MT, higher by 4.5 per cent from the previous year.
National Agriculture co-operative Marketing Federation of India (Nafed), which procured onions from Lasalgaon and other wholesale markets in the state over the past four months is now set to dispose nearly 13,000 tonnes of the buffer stock from its various storage facilities across Nashik district.
Onion exporters see shipments increasing by about 15per cent from a year ago with prices turning competitive in the international market on the back of a government incentive scheme and potential of good domestic production. After the government extended the Merchandise Export from India Scheme (MEIS) to onion growers, the freight-on-board (FOB) price of the Indian variety declined to $195/tonne (from $220 per tonne earlier), giving competition to the produce from China, where a good crop is seeing producers take advantage of high prices in neighbouring nations. The average price in the wholesale markets of Maharashtra is now around Rupee10/kg.
Prices of onion in the key markets of Delhi were slightly down due to an increase in arrivals. At Azadpur, the benchmark market in Delhi, onion was quoted at 550-600 rupees per 100 kg, down 10-20 rupees. Arrivals were pegged at 100 trucks, each carrying 15-20 tn of the vegetable. The key markets of Lasalgaon and Pimpalgaon in Maharashtra remained closed on account of Janmashtami.
Prices of onion were steady in Lasalgaon, a key market in Maharashtra, as subdued demand from stockists offset gains from a fall in arrivals. In Lasalgaon, arrivals were pegged at 400 trucks, each carrying 15-20 tn of onion, down 50 trucks. Prices of onion were stable at 850-913 rupees per 100 kg.
The Madhya Pradesh government may soon disburse 4.8 bln rupees to farmers for onion and garlic procured under the market intervention scheme during the rabi season. Of 10 bln rupees approved as aid for onion and garlic farmers, 4.8 bln rupees would be given in the first phase shortly. Rest would be disbursed in the next phase. State agencies have procured around 873,000 tn of onion and garlic from 180,000 farmers under the scheme. Onion was procured at 1,200 rupees per 100 kg, including an incentive of 400 rupees per 100 kg. Madhya Pradesh government had fixed 800 rupees per 100 kg as protective prices for both vegetables. The move followed fall in spot market prices because of higher production and lower offtake by traders and food processing factories. Onion was sold at 500-550 rupees per 100 kg in key market of Indore when the crop hit the market in full swing in May-June and garlic was sold at 200-300 rupees per 100 kg during same period.
Prices of onion remained unchanged in the key market of Pimpalgaon, Maharashtra, as gains due to a fall in arrivals were negated by subdued demand from stockists. In Pimpalgaon, arrivals were pegged at 950-1,000 trucks, each carrying 15-20 tn of onion, down from 1,345 trucks.
Prices of onion fell in the key market of Lasalgaon, Maharashtra, as quality concerns restricted demand from domestic stockists. In Lasalgaon, onion was sold at 850-1,037 rupees per 100 kg, down 100 rupees. Arrivals in Lasalgaon were unchanged at 1,100-1,200 trucks, each carrying 1.5-2.0 tn of onion. In Pimpalgaon, another key market, prices were at 900-1,200 rupees per 100 kg, down 50 rupees. Arrivals were steady at 900-1,250 trucks.
Prices of onion in Lasalgaon, Maharashtra, were a shade lower as supply was largely sufficient to meet demand despite a fall in arrivals. In Lasalgaon, 900-1,000 trolleys of 1.5-2.0 tn onion each, came to the market, down from 1,600-1,700 trolleys. Arrivals were higher as the market was closed the previous three days on account of truckers strike and weekend. Onion was auctioned in a range of 900-1,200 rupees per 100 kg, compared with 1,000-1,200 rupees.
Onion auctions, which had come to a halt at Lasalgaon — the country’s largest wholesale market for the vegetable — due to the ongoing transporters’ strike, after an agreement was reached between the traders and the market committee officials. Even though the strike has not been called off, traders agreed to take a risk and participate in the auctions. However, they hope that the agitation will be called off by the truckers in a couple of days. On Monday, some onion auctions took place in the sub-divisional market committees of Niphad, Umrana and Vanchur. Onion arrivals in these markets had touched 16,686 quintals and modal prices touched Rs 1,100 per quintal.Last week, arrivals at Lasalgaon were around 18,064 quintals with prices averaging at Rs 1,116 per quintal. Prices and arrivals were in the same range throughout last week.
In a bid to boost onion export, the Centre has decided to give 5% benefit of Merchandise Exports from India Scheme (MEIS) to onion exporters. The scheme has come into effect from July 13 and will continue till January 12, 2019, says a notification issued by the Directorate General of Foreign Trade. Farmers, traders and the agriculture Produce Market Committee (APMC) at Lasalgaon had been demanding the incentive for onion exports. The Maharashtra State Agriculture Marketing Board had also sent a proposal to the Centre around two months ago, seeking 5% incentive for onion export to stop drop in onion prices. “The move will benefit onion exporters. The maximum onion export from the country is from Nashik district. Hence, it will benefit onion exporters in our district in a big way. It will also help stabilise onion prices, which will help the farmers.
Prices of onion remained almost unchanged in the key market of Lasalgaon, Maharashtra, as the effect of subdued demand was offset by a fall in arrivals. In Lasalgaon, onion was sold at an average price of 1,130 rupees per 100 kg. Arrivals were pegged at 825 trolleys, each carrying 1.5-2.0 tn, down from 1,235 trolleys. Supply of the vegetable was lower due to disruptions caused by rains in the region. In Pimpalgaon, another key market in the state, onion was quoted largely unchanged at 1,100 rupees per 100 kg.
Onion prices in Maharashtra are moving up. Over the past month, the modal prices in the Lasalgaon market have risen 46 per cent owing to higher demand and supply constraints due to crop damage in other parts of the country. At the Lasalgaon market near Nashik, which serves as the bellwether for the bulb, prices rose from rs351-940 per quintal on June 5 to rs500-1,191 on June 20. On July 5, the price reigned at rs 500-1,475, with the modal price at rs 1,250. Crop in States such as Rajasthan and Madhya Pradesh had wilted due to excessive heat, resulting in additional demand from Maharashtra. This rally will continue for three months until the new crop arrives in the market. Over the past month, the retail price of onion has increased from rs 20 to rs32.