Onion prices to crash by mid-January (Lead)

January 3rd, 2011 - 7:35 pm ICT by IANS  

New Delhi, Jan 3 (IANS) Onion prices will see a sharp fall by Jan 20, an association of Delhi’s wholesale traders said Monday.This will be because of the arrival of fresh crops, said Rajan Sharma, general secretary of the Chamber of Azadpur Fruit and Vegetable Traders, told IANS.

“With the crops being harvested in Rajasthan, Gujarat, Maharashtra and Madhya Pradesh, we expect more onions to arrive by Jan 15-20,” he said. “This will definitely bring down its prices.”

Onion prices have slipped in the wholesale markets, to Rs.25-45. But retail prices still vary from Rs.40-60.

He said it would take another 10-15 days for the price to trickle down to Rs.25-35 in retail outlets.

“The price of onion might have come down in the retail market but the supply of onions from Rajasthan to Delhi is very low due to higher retail prices in Jaipur and the Gujjar agitation,” Sharma said.

Gujjars demanding job quotas have blockaded highways and rail tracks in parts of Rajasthan.

Onion prices began shooting up from the last week of December. Prices zoomed to Rs.80-100 a kg but came down marginally after a week.

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