The Hindu Business Line : Onion prices likely to decline

ONION prices are likely to decline, with the market in Nashik showing a downward trend and the Navratras season round the corner, said a senior Nafed (National Agricultural Cooperative Marketing Federation of India) official.

"The model rates in Nashik have declined to Rs 850-900 a quintal today compared with Rs 1,000-1,300 a quintal last week," said Mr J. Bhanot, Additional Managing Director, Nafed. "There are enough indications that the rates will now move southwards. Moreover from the earlier part of October, the festive season of Navratras will start, when the demand for onions generally declines by a minimum 20 per cent, leading to a fall in prices," he added.

Additionally, by the end of October, the new crop was expected to hit the markets, said Mr Bhanot. However, wholesale prices in Delhi continued to rule high at Rs 800-Rs 1,275 a quintal compared with the normal average price of Rs 375-Rs 875.

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