Close on the heels of 83 containers (2,500 tons) of Egyptian onions that had arrived last week, as many as 112 containers (3,200 tons) of onions of the same variety are expected to arrive at JNPT in the next 2-3 days to bridge the deficit in the domestic market, say shipping agents and onion traders.
Market experts have predicted that this shipment will certainly bring both wholesale and retail prices down and force the domestic hoarders and farmers from onion producing areas of Nashik and Solapur to release their stocks at comparative rates.
Fresh onions in bulk from Karnataka are also likely to hit the market in a day or two to help diminish the price further, sources said. Spiraling prices of the essential veggie have just been stabilized with the imported lot and out-of-state supply. With wholesale prices climbing down steadily, retailers have slashed the rate slightly and onions are now being sold at Rs 60-75 from the Rs 60-80 rate some time back.
“The wholesale price had gone too high at Rs 60 which has now scaled down to Rs 50 and even less with supply arriving from the south and Egypt. Out of 83 containers that came in earlier, half have been distributed in the all-India market and while the rest are being dispatched this week. The new consignment will help in reducing the price further,” said Islam Idrisi, an exporter.
Last week a few truckloads of Andhra Pradesh and Karnataka onions were sold at a cheaper rate (between Rs 35 and 45) whereas the four containers of Egyptian onions that came to APMC market were sold at Rs 40-45 against the local Nashik produce selling at Rs 45-50. “The new crops and imports have reflected in both wholesale and retail market prices,” said a trader.
Mumbai traders have kept their fingers crossed about the quantity they will receive from the new consignment of imported onions that will come in soon. This consignment is coming directly from Egypt unlike the previous shipment of 83 containers that arrived at JNPT last week through Dubai.