When faced with low onion prices, regional farmers have been trying to reverse the trend by strategically withholding part of the stock. Due to this step, in over a week, onion prices have doubled for some grades, fetching as much as Rs17 a kg in the wholesale market. A week ago, the average price ranged from Rs7-8. Direct purchases from farms had even touched Rs3 a kg.
As the prices started falling, farmers had begun stocking best quality produce waiting for the rates to improve. This helped and the rates have gone up. In Nagpur, the average prices ranged between Rs12 and Rs15 a kg with reports of some grades fetching Rs17.
The rates are expected to further improve. Farm organizations like Shetkari Sangathana now expect that the government should not intervene if the prices go up.
[ Rs100 = €1.20 ]
Source: timesofindia.indiatimes.com
