Navi Mumbai: Onion prices dropped in the Navi Mumbai wholesale market on Friday, the rates of the onion have dropped at a shocking rate. The prices now are falling between the range of Rs. 9 to 16 per kg. This decline is a significant relief for household budgets, the prices of red onions are decreasing due to an increase in supply in the wholesale market. This reduction in prices has provided some relief to middle-class families.
In the Agricultural Produce Market Committee (APMC) market in Turbhe, Navi Mumbai, the price of onion reached up to Rs. 35 to 40 per kg last month, according to a report by Hindustan Times. However, in the early days of March, the price dropped to Rs. 12 to 26.
Continuing the drop in onion prices in the wholesale market, the rate of the onion is Rs. 9 to Rs. 16 per kg. However, in the retail market, the prices of onions have not reported a decrease. Retailers still have old stock and are selling onions for Rs. 35 to Rs. 40 per kg in the Mumbai market, after coming down from Rs. 45.
A onion wholesaler of Navi Mumbai market, Ashok Karpe said about the drop of the price "The produce is over 30% higher from last year. It is coming in from Nashik, Ahmednagar, Pune, Satara, and Sangli, and also from Rajasthan, Madhya Pradesh and Gujarat, and the price will remain low at least till April. With new crops coming and stocked onions expected in the market soon, the prices could drop further" as per reports by Hindustan Times.
The farmers are worried after the price drop of the onion. One of the farmer, Mangesh Suryawanshi, stated, "The price has been falling substantially every week. At the present rate, we are hardly able to cover our costs. We need to get at least ₹20 per kg to earn something from the produce. However, at the rate at which the price is falling, soon we will not be able to even recover our cost.”
