New Delhi: Wholesale prices of onion on Tuesday declined by Rs 5 at Rs 40-45 per kg, although retail rates continued to rule at the uncomfortable level of Rs 60-70 a kilo.
Arrival of new crop of the kitchen staple from Karnataka and increase in imports led to the fall in prices. Around 600 tonne onion is expected to reach Mumbai next week. As per National Horticultural Research and Development Foundation (NHRDF) data, onion arrivals at the Bangalore mandi have increased to 71,000 quintal on Tuesday, from last week's level of 51,000 quintal.
"Onion supply has been increasing in last few days at the mandi which has brought the prices down by Rs 5 per kg at Rs 40-45 per kg," Onion Merchant Traders Association President Surendra Budhiraj said. Meanwhile, co-operative major NAFED held a meeting on Monday in Mumbai with importers to resolve various issues while clearing the imported stock of onion arriving at Jawaharlal Nehru Port Trust, Mumbai.
Despite a fall in the prices of edible bulb at wholesale market, onions were continued to sell at Rs 60-70 per kg in the retail markets. Mother Dairy, meanwhile, is selling onions at Rs 62-64 per kilo, according to an official.
Traders added that fall in the prices of onion at the wholesale market will be visible in a day or two at the retail markets also. However prices of the politically sensitive commodity at Lasalgaon Mandi in Nashik which sets the price trend across the country rose by Rs 3 at Rs 50 per kg, according to NHRDF data.
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