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September 25, 2007 18:36 IST
Much to the discomfort of the consumers and ruling classes, the onion prices in the country are set to hit the roof, with unusually heavy rain lashing Maharashtra, the main growing region, this month.
The unexpected and heavy rain has affected standing crops in the onion producing regions in the state, and it is beginning to make its impact felt. It is said that even slight excess in rainfall can damage the highly perishable commodity.
The prices have already firmed up sharply in Lasalgaon, the country's largest onion market.
The retail prices have touched Rs 25 per kg as costs are pushed up by traders in Mumbai. Although the wholesalers are giving any number of reasons for the sudden rise in the prices, market observers blame it on hoarding.
Wholesale prices of 10 kilo onion have gone up to touch Rs 180-Rs 190 level from Rs 150 a few weeks ago.
"Onion prices are expected to remain high till the new crop arrives in the market," Agricultural Produce Marketing Corporation Director Ashok Valuj said in Mumbai.
Meanwhile in New Delhi, NAFED Managing Director Alok Ranjan speaking to media on sidelines of the cooperative's AGM said the Kharif crop of onion would arrive in the market by October 15, after which the prices would start softening. Ranjan said that onion production is expected to be 15-20 per cent higher in the current season.
Union Agriculture Minister Sharad Pawar last week said it was not economical to import onions as it would first have to be brought to Navi Mumbai and then distributed.
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