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Onion price hiked to Rs 43/kg

Mumbai:In Asia’s biggest wholesale market of onions at Lasalgoan in Maharashtra,onion prices today hiked to Rs 43 per kg due to sharp decline in arrival of the crop.
About 3,500 quintals arrived in the mandi today, as against over 10,000 quintals in the year-ago period.

Traders said, prices are under pressure due to production fall and sluggish supply of stored onions meant for meeting the demand during the lean period of July-September.
Farmers and traders are withholding stocks in Maharashtra, in anticipation of further rise in prices, As of now, less than 30 lakh tonnes of stored onion is left in the domestic market to cater the demand till September.

Total onion production is estimated to be at 189 lakh tonnes in 2014-15 crop year (July-June), slightly lower than 194 lakh tonnes in the year-ago period.

Maharashtra, Karnataka and Madhya Pradesh are the top three onion producing states in the country.