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aPrice support: Nafed to procure 25,000 ton onion from Nashik

Price support: Nafed to procure 25,000 ton onion from Nashik

Wed Mar 28 2018

 

With onion prices sliding to an all-time low of Rs 806 per quintal at Lasalgaon, the country’s largest wholesale market for the bulb, Nafed will soon procure around 25,000 to 30,000 ton from Nashik, Maharashtra’s onion belt. Sanjeev Kumar Chadha, MD, Nafed, told FE that the plan is to procure onions under the price stabilisation fund (PSF) from Nashik in view of falling prices. Onion prices fell to a modal price of Rs 806 per quintal on Tuesday with arrivals touching around 32,920 quintals. On Friday as well, modal prices of onions were in the range of Rs 620 per quintal. According to market committee officials, onion arrivals are heavy on the back of a good crop.

 

“Procurement should commence anytime from Lasalgaon and Pimpalgaon. These onions will then be supplied to Delhi and neighbouring markets. There has been a demand for onions from Odissa and southern states. Some part of the procurement will be done through Nafed and some through Farmer Producer Companies ( FPCs),” Chadha said. MahaFPC – the federation of farmer producer companies in Maharashtra – has submitted a proposal to Nafed for the procurement of around 15,000 ton. Chadha said that there is no dearth of funds at Nafed and therefore procurement should not pose a problem. Rabi crop arrivals have begun in the market from Gujarat and Madhya Pradesh, and Maharashtra has reported an acreage of around 3.5 lakh hectares. The market committee sources said that the arrival of onion has increased in all onion-growing areas such as Pune, Ahmednagar, Gujarat, Rajasthan and Madhya Pradesh.

 

As a result, demand for Nashik’s onions has decreased. Also, supply of both late kharif and summer onions have increased at Lasalgaon, which has led to a drop in prices. The decline in price is expected to continue for at least four to five weeks. Officials said that the price trend is expected to be downwards considering the huge arrival of onions. Farmers can’t store kharif crop as its shelf life is less than a month. Hence, the prices are expected to drop to Rs 750 per quintal, an official said. Meanwhile, the harvest of summer onions is expected to pick up in the next two weeks. The late kharif harvest is expected to continue till Mach-end while summer harvest till April-end. Meanwhile, the harvest of summer onions is expected to pick up in the next two weeks. The late kharif harvest is expected to continue till Mach-end while summer harvest till April-end.

 

Source: http://www.financialexpress.com

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