Export demand, rainfall delay, damage keep onion prices firm
Onion prices are staying firm at a five-year high as a combination of strong export demand and delayed and damaged kharif crop due to prolonged monsoon rainfall has impacted an expected fall in prices post Diwali season.
Onion prices are expected to return to comfortable levels by mid-December, trade insiders said.
At the benchmark Lasalgaon market in Maharashtra’s Nashik district, onions traded in the range of Rs 15/kg to Rs 53/kg on Wednesday, while the average price was Rs 40/kg. The average wholesale price of the red onion at Lasalgaon was Rs 34/kg in 2020, Rs 21/kg in 2021, Rs 20/kg in 2022 and Rs 37/kg in 2023.
The export demand is higher by about 50% than seen during this period of the year.
“We usually export to the Far East at this time of the year. However, as Pakistan's crop is over, there is demand for Indian onions in Sri Lanka and the Middle East,” said Vikas Singh, vice president at Horticulture Producer (Produce) Exporters' Association.
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