Nashik: The average wholesale onion price at Lasalgaon, Asia’s largest onion trading hub, increased by nearly 16% over the past two trading sessions. This price rise is attributed to a decrease in supply as farmers are withholding stocks, anticipating higher prices in the near future.
Data from the Lasalgaon Agriculture Produce Market Committee (APMC) showed the average wholesale price rising by Rs 400 per quintal to Rs 4,400 on Tuesday from Rs 4,000 on Monday. It stood at Rs 3,800 on Saturday, the previous trading day, marking a 15.78% increase in two trading sessions. The rise comes after prices fell sharply last week, dropping from Rs 4,250 to Rs 3,800 per quintal following the Centre’s release of buffer stock onions in major consumer markets. On Tuesday, the minimum wholesale price at Lasalgaon was Rs 1,000 per quintal, while the maximum touched Rs 4,860. A total of 6,396 quintals were auctioned.
Traders said the price trend in the coming days will depend largely on arrivals and the pace at which farmers release their stored stocks. You Can Also Check: Gold Rate in Nashik | Silver Rate in Nashik | Bank Holidays in Nashik | Public Holidays in Nashik | Petrol Price in Nashik | Diesel Price in Nashik | CNG Price in Nashik | LPG Price in Nashik