Low bidding in Onion auction in Nashik

The auction for onions started in Nashik, and due to low prices, farmers halted the bidding. Let's find out how much the lowest rate went. Amidst indications of rising prices in the upcoming festive season, after the announcement by the central government to impose a 40% duty on onion exports to increase domestic availability, the auction of onions began in some APMC markets in Nashik, Maharashtra, on Thursday. However, it was discontinued shortly due to low prices. It should be noted that onion auctions in the market had been closed since Monday.

Officials reported that in addition to Lasalgaon, the country's largest wholesale onion market, auctions had also begun in Pimpalgaon and Chandwad APMCs in the morning but were stopped shortly after due to low prices.
An official stated, "About 300 vehicles loaded with onions arrived for auction in Lasalgaon. The minimum price was Rs 600 per quintal, while the maximum price was Rs 2,500, and the average price was Rs 2,251. In Chandwad, the price was Rs 1,700-1,800 per quintal. The auction did not resume until the afternoon, and officials hoped for the auction to begin in the afternoon. Protests against the export duty imposed on onions by the center have been ongoing in the district." Between April 1 and August 4 of this fiscal year, India has exported 9.75 lakh tons of onions. The top three importers of Indian onions are Bangladesh, Malaysia, and the United Arab Emirates.