Spiralling vegetable prices are likely to remain firm for at least a month, till the new seasonal crop comes to the wholesale markets.
Data from the Nashik-based National Horticultural Research and Development Foundation showed that onion was trading at at Rs 24 a kg on Tuesday in the benchmark Lasalgaon mandi in Nashik district of Maharashtra. That's a fall of four per cent since Monday and 40 per cent from Rs 40 a kg on January 20, a level not seen since November 6, 2019. It continues to sell at Rs 40-44 a kg in retail markets across the country.
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India eats 1.2 million tonnes of onions a month and the current stock will last till the end of August.
Exports during the same period in 2012-13 fiscal stood at Rs 1,590.79 crore (Rs 15.9 billion), according to National Horticultural Research Development Foundation data.
Tomato prices in retail markets of metro cities have shot up to Rs 72 per kilogram on tight supply due to unseasonal rains in key producing states like Madhya Pradesh and Maharashtra.
The varieties will take at least 4 to 5 years to reach farmers after they complete the usual cycle of breeder, foundation and certified seeds.
In upmarket colonies, the bulb, a key ingredient in many Indian dishes, cost as high as Rs 70-80 a kg.
Among metro cities, tomatoes were sold at Rs 93 per kg in Kolkata, Rs 60 per kg in Chennai, Rs 59 per kg in Delhi and Rs 53 per kg in Chennai on Monday, data showed. The retail price of tomatoes was ruling at more than Rs 50 per kg in over 50 cities out of 175-odd cities tracked by the consumer affairs ministry.
Prices of the kitchen staple in Azadpur mandi, Asia's largest wholesale market, were ruling at Rs 60 per kg today as supplies were below normal.
Traders said wholesale prices are firm as supplies from producing regions have been lower in the past couple of days.
Onion prices had peaked to Rs 57 per kg on August 22.
With 3,000 tonnes of imported onion entering the market over the next fortnight, the price should start cooling off. Soon after, the new crop of onions will arrive, further reducing prices.
To give relief to Delhiites, the National Agricultural Cooperative Marketing Federation of India Ltd has started selling onions at Rs 55 a kg through its five retail outlets and two mobile vans in the national capital.
In UP, potato prices have moved marginally up so far this month.
In the coming weeks prices are expected to further cool down as new crop from Karnataka has started coming into the market.
Onion output dropped to 189.2 lakh tonnes in 2014-15 crop year due to poor rains
Onions prices are still ruling at an unaffordable level, though rates have started softening both in the wholesale and retail markets across the country following government measures like allowing cooperative Nafed to import onions.
Retail tomato prices are ruling at Rs 80 per kg in most cities across India but the rates have shot up to as high as Rs 120 per kg in few southern states because of widespread rains, according to government data. In Chennai, retail price of tomato was at Rs 100 per kg, Puducherry Rs 90 per kg, Bengalure Rs 88 per kg and Hyderabad Rs 65 per kg. In Kerala, retail prices of tomato are ruling at Rs 120 per kg in Kottayam, Rs 110 per kg in Ernakulam, Rs 103 per kg in Tiruvananthapuram, Rs 100 per kg in Palakkad, Rs 97 per kg in Trissure, and Rs 90 per kg in Wayanad and Kozikode.
Prices start downward trend but rainfall, supply restrict climbdown.
Farmers reported a massive crop damage in transit in addition to huge quantity of the potato left unharvested due to mud in the field.
Last date for submitting the offer is August 27.
Wholesale prices too rose at the same pace to 45-55 per kg in the national capital and other states.
Onion supply in Nashik low but is expected to normalise in a couple of days
The agriculture ministry projects India's tomato output at 19.69 million tonnes in 2016-17 (July-June)
Large stocks were ruined in transit due to thunderstorm and rainfalls in the north and the north-east states, resulting in fewer kilos of potatoes at mandis.
Prices started rising again beyond Rs 30 per kg in the last one week and are now ruling at Rs 32 per kg at Lasalgaon
Increased harvesting is expected to boost supply
Prices of the key vegetable have also gone up in various cities.
Trade sources believe that tomato supply from Maharashtra has slumped due to incessant rain in the state towards the fag end of the monsoon season, reports Dilip Kumar Jha.
This could be the reason why Prime Minister Narendra Modi mentioned tomato, onion, and potato as his government's 'TOP' priority, in an election rally on February 5 in poll-bound Karnataka.
Lasalgaon, Pimpalgaon mandis halt auctions to arrest the decline.
Onion supply to the city, which comes from Maharashtra, Rajasthan and Madhya Pradesh, is normal at 12,000 quintals in Azadpur, Asia's largest wholesale market, it added.
Private traders had placed orders early this month with Egyptian suppliers at $320 a tonne
Sowing up 400%; prices may be low in 2014 as Maharashtra, MP and Bengal also likely to increase acreage 15-20%.
'Onion supply to mandis has declined due to its lower availability.'
India exports about 1.5 mt of onion every year.
However, truckers have spared other vegetables, fruits, fuel and milk from the strike.
Govt floated import tender, allowed import without fumigation.
The crop is currently trading at Rs 22 a kg compared to Rs 12.50 one month ago.
Retail prices across the country continued to be at Rs 80 a kg.
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