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Onion rates ease on fears of imports, potato’s moving up

Date: 09-12-2019
Subject: Onion rates ease on fears of imports, potato’s moving up
NAGPUR: Onion prices are finally showing some signs of recession. The rates have come down to Rs75 to Rs70 a kg in agriculture produce market at Kalamna where the stock is directly purchased from farmers. Over a couple of days ago, rates at Kalamna had touched Rs90 a kg, taking the retail prices to Rs120 a kg. 

Even as rates continue to remain at Rs120 a kg in vegetable marts across the city, traders say the prices may finally come down this week even at retail vendors’ end. This is because there has been a sudden rush of supplies into the markets. 

Traders and even farmers are apprehensive that the prices may soon ease after imported onions reach the market. To cash in on the situation, those having the stock are pumping it in the markets, thus bringing down the prices. 

“Supplies have gone up because of news that imported stock may soon reach the market. At the same time, traders down the line are not ready to buy at such high rates. The fall in demand has also eased the prices of onion,” said Jaiprakash Wasani of M/s Pankaj Traders at Kalamna. 

Prices of potatoes that are traded along with onions are also on the rise. Unseasonal rains have hit the potato output too. The crop has been delayed by a month scaling up its prices. In less than a week potatoes that were being sold at Rs15 to 12 a kg are now being quoted at Rs18 in Kalamna market. Retail vendors are selling it at Rs25/kg. 

According to Wasani, potato rates that were down since four years are moving up. “Supplies supposed to come from Karnataka a month ago have not reached the markets in Nagpur yet. Arrivals of the local crop from Chhindwara in Madhya Pradesh only began less than a week ago, which is late by a month. Supplies from Uttar Pradesh and Gujarat will start in January-February only,” he said. 

Mohammed Afaq of M/s Afzal Trading company said that farmers are also coming up with raw onions that were harvested before time. They don’t want to wait till the crop ripens fearing that the rates may come down by then. It has ultimately helped in easing the prices. 

The raw stock being brought by farmers is also not lasting long, said Illahi Baksh of M/s Saurashtra Trading. He confirmed that the potato rates are also on an upward move. 

A potato trader at Mainpuri Uttar Pradesh said even as the crop will be in time there are reports that sowing is down by 15% this season. 

Fulchandbhai, a potato trader from Deesa in Gujarat, also said that sowing has gone down and the rates have already touched Rs2,000 a quintal as against Rs1,500. 

Traders say that potato rates may not spiral like the onions because there are cold storages having supplies where the crop can last long. No such facility is available for onions which leads to wide fluctuations in the prices. 

Source: timesofindia.indiatimes.com

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