Onion prices in wholesale market of Lasalgaon, Nashik has shot up by Rs 400 and hit two-year high of Rs 4,900 per quintal, as per data compiled by National Horticultural Research and Development Foundation (NHRDF). This is on account of decline in supplies as harvesting of onion has been delayed and now it seems that there will also be fall in production of kharif onion. Lasalgaon wholesale market sets the price trend of onion across the country.
The rabi onion stored in the country has halved to 14 lakh tonnes from 28 lakh tonnes in July. Besides, total onion production is estimated to be at 189 lakh tonnes in 2014-15 crop year (July-June), slightly lower than 194 lakh tonnes, a year ago.
Further, the centre has already asked state-owned MMTC to float a global tender for importing 10,000 tonnes of onions, in order to keep prices of onions in check and ensure smooth supplies.