Maharashtra's last season Onion stockpiles impact new crop price
Maharashtra the Onion price is ruling at a low range between Rs 200 to Rs 300 per quintal in-order to clear the existing Onion stock of last season, this has put a huge impact on the price of new stocks which have already started piling.
A varied number of factors, including the huge carry forward of the last rabi season’s (March-April) stock, slowdown in consumption in the southern states of Tamil Nadu and Kerala due to the cyclone and poor demand from the exporters, have led to the decrease in the prices of the crop.
Farmers are bringing the old stock, which is fetching them about Rs 300 per quintal. With the new arrivals and a huge stock of the old crop, the prices of the new crop are also getting impacted. The new crop is fetching between Rs 600 and Rs 700 per quintal in the markets, compared to Rs 1,500-2,000 per quintal. Thus, the weak price sentiment is influencing the new crop prices too.
The cost of production of growing Onions is between Rs 800 and Rs 900 per quintal. Farmers prefer to stock the summer Onion, as it has a shelf life of 8-9 months. But the reduction in the wholesale price of summer Onions has resulted in a huge loss to farmers this year.
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