Onion prices will fall till mid-March: Experts
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Experts said this on Tuesday. He said that there is a glut of supply in the market due to which farmers are getting only a small part of their cost for the produce and angry farmers have stopped trading in Lasalgaon, Asia’s biggest market in Maharashtra on Monday.
Onion prices will continue to decline till rabi or low winter damage crop hits the market in mid-March. Experts said this on Tuesday. He said that there is a glut of supply in the market due to which farmers are getting only a small part of their cost for the produce and angry farmers have stopped trading in Lasalgaon, Asia’s biggest market in Maharashtra on Monday.
Deepak Chavan, an independent agriculture sector analyst, told PTI that there are multiple reasons for the current crisis, due to which farmers have started panic selling as the late-harvested kharif crop spoils within no time. He has demanded the intervention of the government in this regard. Chavan said more farmers sowed the late kharif variety this year instead of the kharif variety, which increased the acreage and is estimated to increase productivity by up to 20 per cent, maintaining the current situation.
Prolonged rains delayed sowing and many farmers opted for the Pacheti Kharif (late-sown Kharif onion) variety. Chavan said prices will continue to decline till mid-March when rabi arrivals begin and traders will pay higher prices for the commodity as arrivals last longer. Maharashtra is one of the largest producers of onions, accounting for 40 per cent of the country’s onion production.
Disclaimer:IndiaTheNews has not edited this news. This news has been published from PTI-language feed.
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