Despite a steep 40 percent export duty, onion prices in the wholesale markets continue to be bullish. Non-availability of quality onions and late arrival of the crop are said to be the main reason for this bullish trend, which is expected to continue till the middle of November. The export duty and the complete squeeze on exports have not made much difference to the wholesale price of onion in the markets. Thus before the ban was imposed, at Lasalgaon’s market, which is the largest onion market in the country. The average price of the bulb was between Rs 2,300-2,400 per 100 kgs.
The price trend continues to be similar even now. Today, the average traded price of the bulb was Rs 2,470 per 100 kgs, which was the highest recorded this month so far. Located in the Nipahd taluka of Nashik district, Lasalagaon’s market is now recording around 1,100-1,200 tons of the bulb on a daily basis now.
[ Rs 100 = €1.10 ]
Source: indianexpress.com
