Onion prices double after Bangladesh allows import: farmers' body

Mumbai, Aug 20 (PTI) Onion prices spiked from about Rs 800 per quintal to Rs 1,600 after Bangladesh allowed its import from India, according to a farmers’ association.

"The prices had slumped to Rs 800-1,200 per quintal in recent months. After Bangladesh allowed the import from India, prices of onions have increased to about Rs 1,500 to 1,600 per quintal," Maharashtra State Onion Producers Association president Bharat Dighole told PTI.

However, the rise in the prices of the kitchen staple is still low compared to the production cost, which is over Rs 2,200 per quintal, according to Dighole.

He said the Bangladesh government's move to allow imports from August 14 to December 13 will provide relief to onion growers.

Dighole claimed that agriculturists are facing huge losses due to a glut in the onion crop and higher production costs.

"Onion cultivation in Maharashtra during the rabi season is around 1.45 crore tonnes. Onion producers believe that a substantial balance in domestic supply and export will yield profit," he added.

Lasalgaon in Nashik district has the largest onion market. The Lasalgaon onion market rate serves as a benchmark, influencing onion prices across the Asian market. PTI MR NSK