Sunday, February 25th, 2024

After tomato, now onion will bring out tears! Fear of stormy rise in prices in September, farmers’ indifference will be heavy


Photo:FILE Onion Price

Till now we are lamenting over the price rise of tomatoes. But next month we can now see a stormy rise in onion prices. Onion, which is available for Rs 10 to 20 in May-June, can come in its color in September. Onion prices are expected to cross Rs 60 to 70 in September. According to the rating agency Crisil, the arrival of onions in the mandis may decrease next month, due to which an increase in prices can be seen from two times to two and a half times of the current prices. However, with the arrival of new crop in October, prices may go up.

Price will reach Rs 60-70

According to a Crisil Market Intelligence and Analytics report, “The demand-supply imbalance is likely to reflect on onion prices in late August.” As per the inputs received from the ground level interactions, the prices in the retail market are expected to increase significantly from the beginning of September and may reach up to Rs 60-70 per kg. However, the price will remain below the high of 2020.

Situation will improve from October

With the storage and utilization period of rabi onions being reduced by a couple of months and panic selling in February-March this year, the rabi stock in the open market is likely to fall significantly by end-August instead of September, the report said. There is apprehension. This will increase the consumption of onion. ”The report said that when the arrival of Kharif starts from October, the supply of onions will be better, due to which the prices are expected to soften. It added that the volatility in prices is expected to go away in the festive months (October-December).

Indifference of farmers will be heavy

The fall in onion prices during January-May this year brought some relief to the consumers. However, this discouraged onion farmers from sowing in the Kharif season. “Given this, we expect acreage to decline by eight per cent this year and onion kharif production to be lower by five per cent year-on-year,” the report said. The annual production is expected to be 29 million tonnes. This is seven per cent more than the average production of last five years (2018-22).” Therefore, there is no possibility of a major shortfall in supply this year despite lower Kharif and Rabi production. However, rains in August and September will determine the onion crop and its growth.

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