Onion auction restarts at Lasalgaon, touches Rs 6,802 per quintal

Mumbai: Almost a week after the onion auction restarted at Lasalgaon Agriculture Produce Marketing Committee in Nashik district where the price surged at a record Rs 6,802 per quintal from Rs 4,200 per quintal which was prevalent in the last week. Onion growers estimate that the price may cross Rs 8,000 per quintal by Diwali.

As reported by FPJ, the auction was suspended last week after the Income-Tax raided nine leading traders from Lasalgaon which is the leading onion growing hub at the national level. Till October 14, the Income Tax Department raided at least 9 traders of Lasalgaon and thereafter the auction was suspended. However, traders on Monday reached at the APMC and restarted the auction.

Leading onion grower from Lasalgaon Jayadatta Holkar, ‘’ After the auction restarted today nearly 5,000 quintal onions were auctioned at the APMC at Rs 6,802 per quintal. This onion produced in March has been stored in storages by the farmers who have to dispose of the stock at the earliest before it is damaged. The prices may surge at Rs 8,000 per quintal by Diwali.’’ He added that the arrival of fresh onions will be after Diwali.

He recalled that in March onion was priced at Rs 3,000 per quintal and thereafter there has been ups and downs in the prices. He said the Centre’s sudden decision to ban onion export led to fall in prices but they have revived now. ‘’ The heavy rains and waterlogging in agriculture have posed a serious threat to onion crops. The damage will be known only after the water is receded. This may further impact prices,’’ he noted.

In Lasalgaon, the maximum price of onion was Rs 6,802 per quintal while the average was Rs 6,200. However, onions sold damaged onions at Rs 1,500 per quintal.