Over the last week, prices of onion have risen by Rs 10-12/kg in the Mumbai APMC at Vashi, reported the Times of India.
This price rise is ascribed to the unpredictable monsoon that has resulted in a deferment in the harvest of fresh crops. In addition to this, it has resulted in considerable harm to the previous stock of the produce.
According to the account, the market observers are of the opinion that the prices of this vegetable are anticipated to continue to stay high amidst the festivities. The prices have increased to Rs 28-32/kg while the earlier price was Rs 18-20/kg at wholesale markets. This has resulted in the retail prices to increase to Rs 40-45/kg from the previous Rs 30-35 a kg.
Traders, on the other hand, have stated that the size of sales has fallen to a certain extent owing to the harm caused to the old stock that was impacted by the cyclone.
Apart from this, retailers select the finest quality and abandon the second rate causing it to be unsold for days. This accumulation has resulted in further damages stated a wholesaler according to the report. Prices are anticipated to cross the mark of Rs 35/kg in the coming days before seeing a fall in prices after the Diwali festivities which will see the appearance of new onions, added the wholesaler.
Share
Tweet
