Millennium Post

‘Onion prices may come down sharply in next 10-15 days’

Union agriculture minister Sharad Pawar on Tuesday said onion prices are expected to fall sharply in the next 10-15 days, which may give relief to consumers.

‘I am absolutely confident that in the next 10-15 days, I will start getting brief from farmers that prices have fallen sharply,’ Pawar told reporters on the sidelines of an event.

Onion prices both in the wholesale and retail markets have remained at an unaffordable level since July due to seasonal shortages. Onions continue to available at Rs 60-70 per kg in most retail markets despite a falling trend in some wholesale markets.

Pawar said the prices have shot up despite substantial increase in onion production to over 17 million tonnes (MT) in 2012-13 from 9.5 MT in 2005.

However, the falling trend in onion prices will begin from month-end on improved supplies, he said.

‘Arrival in some states has started. I think by end of this month, the process of price coming down will start.’

Improved supply of imported onions and fresh arrival of crop would improve availability and control prices, he said.

The government has been taking several measures to boost domestic supplies. It has restricted exports by raising minimum export price to USD 900 a tonne and opened imports.

About 600 tonnes of onions are expected reach Mumbai port next week.
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