Onion prices will dip by mid-January, say traders

January 3rd, 2011 - 3:19 pm ICT by IANS  

New Delhi, Jan 3 (IANS) The sky-rocketing prices of onion that have come down marginally are expected to fall further by mid-January, Delhi’s wholesale traders said. Traders in Delhi’s Azadpur Mandi, Asia’s biggest wholesale vegetable market, said that onion prices are likely to witness a sharp fall by Jan 20 with the arrival of fresh crops.

“With the crops already being harvested in states like Rajasthan, Gujarat, Maharashtra and Madhya Pradesh, we expect more pile of onions to arrive by Jan 15-20. The crop’s arrival will definitely bring down its prices,” Rajan Sharma, general secretary of the Chamber of Azadpur Fruit and Vegetable Traders, told IANS.

The onion prices have slipped in the wholesale markets where it ranges from Rs.25 to Rs.45, but the bulb’s retail prices are still high ranging from Rs.40 to Rs.60.

He also said the impact will not be felt immediately on the grocery budgets as it will take another 10-15 days for the price to trickle down between Rs.25 to Rs.35 at retail outlets.

The wholesale traders cited various reasons for the drastic change in rates of onions every day.

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

The onion prices started rising from the last week of December. Prices shot up to between Rs.80 and Rs.100 per kg but came down marginally after a week.

However, the retail price now is Rs.55 to 60 per kg in Vasant Kunj, South Extension, Greater Kailash, Shanti Niketan areas of Delhi and ranged between Rs.40 to Rs.50 per kg in other areas.

“The rates change every day. We come to know the rates in the morning when we go to the wholesale market for vegetables. As of now, onion is priced at Rs.35 to Rs.55 per,” said Babu Lal, a retail vegetable vendor.

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