Nashik in Maharashtra produces the largest quantity of onions in India. Wholesale prices there touched a yearly high of 40 rupees per kilogram last week. By the time the produce reached the main wholesale markets, prices hit 50 to 55 rupees for a kilogram.
As ndtv reported earlier, onions prices spiked over the last two weeks. Much of it has to do with trade in Maharashtra and Lassalgaon where most of the onion grown in Nashik is traded and expedited. Prices have now fallen, but are yet to stabilize. The volatility in prices, traders say, will continue till the end of this month and prices will go down to early November levels once the fresh stock arrives in the market.
Onion prices had touched a yearly high last week going at almost 80 rupees a kilogram. This week, prices have come down to 60 rupees, but are likely to hover around 50 to 60 rupees till the end of December.
