Onion prices drop in Navi Mumbai's wholesale market

Onion prices in Navi Mumbai are dropping, providing some relief to shoppers. In the wholesale market, prices have fallen to ₹9-16 per kilogram. This reduction comes as more onions arrive, but farmers are concerned about covering their costs. Last month, wholesale prices were much higher, reaching ₹35-40 per kg. At the start of this month, they dropped to ₹12-26 per kg and have now decreased even further. However, retail prices have not fallen as much. Currently, onions are selling for ₹35-40 per kg in retail, down from ₹40-45 per kg. The increase in onion arrivals has surpassed demand. Daily, around 90-110 vehicles are bringing about 25,000 bags of onions to the market. The produce this year is more than 30% higher compared to last year, and it comes from various regions, including Nashik and Rajasthan. Some experts believe prices may stay low until April as new crops come into the market. Despite the lower prices benefiting consumers, farmers are worried. Mangesh Suryavanshi, a local farmer, says they need at least ₹20 per kg to make a profit. He urges the government to lift the 20% export duty on onions, which he believes would help farmers compete better globally. Retailers are seeing only slight price reductions. Sunil Yadav, a retailer, explains that they cannot lower retail prices too quickly because their stock was bought at higher prices. As a result, the decrease in wholesale prices is not yet fully reflected in what consumers pay.