Nashik News: Onion Prices Show Signs Of Recovery, Offering Respite To Farmers

Nashik News: Onion Prices Show Signs Of Recovery, Offering Respite To Farmers

On Wednesday, in the Lasalgaon-Vinchur and Pimpalgaon market committees, red onion commanded an average price of ₹1950 and ₹1970 per quintal, respectively

Prashant NikaleUpdated: Thursday, January 04, 2024, 03:35 PM IST
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Nashik News: Onion Prices Show Signs Of Recovery, Offering Respite To Farmers | File Photo

In a noticeable turn of events, onion prices have exhibited a positive trend, bringing a ray of hope to farmers amidst recent concerns over plummeting rates. Over the last few days, the market has seen a marginal upturn in onion prices, alleviating the distress among growers.

Recent reports from various market committees in Nashik shed light on this promising shift. On Wednesday, in the Lasalgaon-Vinchur and Pimpalgaon market committees, red onion commanded an average price of ₹1950 and ₹1970 per quintal, respectively. This reflects a notable increase compared to earlier prices, signifying a positive trajectory in market rates.

The Lasalgaon-Vinchur market committee or Lasalgaon APMC (Agriculture Produce Market Committee) reported an influx of 14,500 quintals of red onions, securing a minimum price of ₹1000 per quintal, with an average rate of ₹1950 per quintal. Similarly, the Yeola APMC witnessed an arrival of 9000 quintals of red onions, attaining a minimum rate of ₹2000 per quintal and an average of ₹1850 per quintal. Meanwhile, the Manmad APMC received 4000 quintals of red onions, with a minimum price of ₹400 per quintal and an average price of ₹1900 per quintal.

These recent developments have marked a departure from the declining market prices observed in the past weeks. The average rate of ₹1870 per quintal recorded on Tuesday saw a slight surge to ₹1970 per quintal today, providing a sense of relief to onion producers who have grappled with substantial losses owing to the prolonged drop in prices.

The decrease in arrival of summer onions and the resurgence of red onions in the market have played a role in this recent shift. The stabilisation and slight upward movement in prices are seen as a glimmer of hope for farmers, potentially curbing the prolonged market price slump and offering a semblance of respite amid the prevailing challenges.

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