The Lasalgaon Agriculture Produce Market Committee (APMC) in India has witnessed a 20% increase in the average wholesale onion prices, attributed to a significant reduction in supply relative to demand. On a detailed note, prices escalated from Rs 2,130 per 100 kg to Rs 2,550 per 100 kg within a span from June 5 to June 15. APMC officials have highlighted a substantial decrease in onion arrivals, with daily auctions dwindling from an average of 1.2-1.5 tons to merely 600 kg.
The decline in supply is linked to farmers' engagement in preparations for the upcoming kharif season and anticipations of the Centre revoking export restrictions on onions. Concurrently, the resumption of onion exports to countries such as Sri Lanka, Bangladesh, and Malaysia, following the Centre's lifting of the export ban, has further exacerbated demand pressures. Notably, approximately 100 containers, each carrying 30 tons of onions, are being exported daily from Nashik district post the ban lift, intensifying the demand dynamics.
[ Rs 100 = €1.10 ]
Source: timesofindia.indiatimes.com