Onion prices Fallen To Rs 375 a Quintal From Rs 570

Onion prices Fallen To Rs 375 a Quintal From Rs 570 Onion prices continuing their southward trip as large arrivals counterbalance the Centre’s conclusion to reduce the minimum price for export to $350 a tn on Thursday.

“Presently there is pick-up in requirement as well as normal movements of cargo. However large arrivals are pinning costs down,” said Mr Madan Prakash, Director of Chennai-based Rajathi Group which exports onions.

On Friday, the modal cost where many trades happened fallen to Rs 375 a quintal from Rs 570 a week ago at Lasalgaon, Asia’s largest industry for the bulb. Rates fetched through good quality onions, too, decreased to Rs 500 from Rs 650.

Arrivals continuing to flood the markets with 2,364 tn striking Lasalgaon on Friday. Inflow in to Lasalgaon all over this week was more than 1,500 tn. In near by Pimpalgaon, arrivals topped 3,000 tonnes on Monday, while in Pune inflows were above 2,000 tonnes this week.

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