Onion price
Market checks on Wednesday showed good-quality onions being sold for around Rs 70 a kg, with rates varying according to quality and locality. Online market trackers, too, put the retail range for large onions in Kolkata at Rs 65-Rs 69 a kg and smaller varieties even higher. Even Bengal’s indigenous Sukhsagar variety, now available to traders at around Rs 2,200 for a 40-kg bag, has failed to pull down the broader retail price substantially. “A 40-kilo sack of onions now costs between Rs 2,300 and Rs 2,500. A fortnight ago, we bought it for Rs 1,400,” he said. Latest available mandi data showed the modal Posta price still hovering at around Rs 50-Rs 51 a kg on Sept 17, leaving limited room for a sharp retail correction after transport, wastage and retailer margins are added.
Earlier, traders had said that some local stocks were not being released immediately as sellers waited for higher prices.
Traders said the market continues to be influenced by prices of onions arriving from Nasik, Maharashtra and other states. “The modal wholesale price rose from around Rs 3,250 a quintal on Aug 18 to Rs 4,800 on Aug 26,” said a Posta wholesaler during the earlier phase of the surge. “The price of onions has reached so high that I have to either cut down consumption or buy fewer vegetables now,” said Paromita Sarkar, a Tollygunge homemaker.
Some retailers alleged that stocks were also being held back in anticipation of better prices during the festive period, though the allegation of hoarding could not be independently verified. Retailer Nilmoni Saha of Kasba flagged the rapid rise in procurement costs when the current price spiral began. Posta wholesalers have witnessed a similar roller-coaster. For consumers, the renewed rise has come just as festive spending is gathering pace.
Agriculture marketing minister Dilip Ghosh had recently said onion prices were expected to soften and announced plans for 10 storage facilities in Bengal to preserve Sukhsagar onions for the lean Aug-Nov period. The proposed facilities are intended to extend storage life and create a buffer against recurring shortages.