The average wholesale onion price at Lasalgaon APMC, the country’s largest wholesale onion market, has shot up by 25% in the last one week. The price hike is due to a drop in supply. The average price was recorded at Rs 2,000 per 100 kgs (€22) on Friday as against Rs 1,600 on August 29.
According to APMC officials, the average wholesale onion price has increased due to the rise in demand as compared to supply. The arrival of onion has reduced at the Lasalgaon APMC due to the rain. Besides, over 30% of the stock of onion stored by farmers was destroyed so far due to the current weather conditions and periodical losses.
Moreover, the onion crop in south India has been badly damaged due to the incessant rainfall for the last few days. As a result, the demand from onions from Nashik has increased to a great extent. This has led to rise in the average wholesale onion price over the last few days, said APMC officials.
The minimum and maximum wholesale onion price at Lasalgaon was recorded at Rs 1,000 and Rs 2,411 per 100 kgs respectively. Around 14,000 100 kgs of onion was auctioned at Lasalgaon on Friday.