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NEW DELHI: The wholesale mandi prices of onion have declined marginally following the imposition of the minimum export price (MEP) of $800 per tonne on Saturday. In Delhi’s Azadpur, which is Asia’s largest wholesale market for fruits and vegetables, the prices fell to Rs 45-50 per kg on Monday from Rs 55-60 per kg a few days ago. However, it will take some time for the impact to reach the retail market.
The most common price of onion across centres was Rs 60/kg on Monday and in some places like Delhi it was selling at Rs 70/kg.
While officials said they expect prices to fall in the next few days, traders are hoping for a decline in prices as kharif crops have started arriving from Rajasthan, MP and Maharashtra.
The consumer affairs ministry, in a statement, also said that there has been an immediate impact of the MEP on the price correction in Maharashtra markets, where prices recorded a decline of 5% to 9% from the highest price registered last week. It added that the weighted average price of onion in Maharashtra across all the markets has declined by 4.5% and a similar decline was observed in consumption centres as well. Even at Lasalgaon in Maharashtra, the hub of the country’s onion market, the benchmark price declined.
The most common price of onion across centres was Rs 60/kg on Monday and in some places like Delhi it was selling at Rs 70/kg.
While officials said they expect prices to fall in the next few days, traders are hoping for a decline in prices as kharif crops have started arriving from Rajasthan, MP and Maharashtra.
The consumer affairs ministry, in a statement, also said that there has been an immediate impact of the MEP on the price correction in Maharashtra markets, where prices recorded a decline of 5% to 9% from the highest price registered last week. It added that the weighted average price of onion in Maharashtra across all the markets has declined by 4.5% and a similar decline was observed in consumption centres as well. Even at Lasalgaon in Maharashtra, the hub of the country’s onion market, the benchmark price declined.
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