PUNE: Onion farmers are resorting to distress sale of stored onions as the arrival of kharif season’s new crop has gathered pace. Lower domestic prices have helped boost exports, which are expected to gain momentum by the end of the month when export from Pakistan is likely to dwindle.
By mid-October, onion prices shot up suddenly on fears of drought and delay in kharif crop. However, farmers are now forced to throw away their crop as old crop prices have dropped to Rs 3 per kg. The summer harvested rabi crop had been in storage for about six months. “The price of old crop of onion is ruling lower while the new onion is selling at average price of Rs 10 per kg,” said Ajit Shah, president, Association of Onion Exporters.
Exports had slackened briefly in October. However, with reversal in domestic prices, exports increased again. “The demand for Indian onion will increase further once supplies from Pakistan decline. The average export price of Indian onion is $240 per tonne free on board, though good quality onion is exported at $260 per tonne.
The export price of Pakistan’s onion is$170 per tonne,” said Shah. The impact of drought on kharif onion production is not clear, though the current daily arrivals, at 14,000-18,000 quintals at Lasalgaon Agricultural Produce Market Committee.
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Source: Economictimes
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