With auctions unable to proceed, the median onion price declined 17 per cent or Rs 6 a kg to trade at Rs 30 a kg on Monday, with arrivals of around 500 tonnes.
However, onion arrivals have been normal with farmers bringing in 1,400 tonnes of the bulb to Lasalgaon on Friday, substantially lower than 2,429 tonnes on Thursday, but there is no dearth of supply to mandis.
India exports about 1.5 mt of onion every year.
The concept of gold as an asset capable of getting anytime money is evaporating.
Traders say prices will remain elevated due to increased demand, lower availability
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